Relating to the acquisition of bank assets by a credit union.
The Act says that if a credit union buys a bank, certain receipts remain subject to certain taxes. (Flesch Readability Score: 61.6). Provides that if a credit union acquires assets of a banking institution, receipts from the business portfolio acquired from the bank remain subject to the corporate excise tax and corporate activity tax.
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{# E23 (Nick, ruling section 1 answer 10): quoting a bill or a court opinion works
the way quoting a news article works. Select a passage above and the same panel
opens: the passage goes to the official you choose, with this document's own
address as its source and its own type. #}