Mr Cooper Group Inc fka COOP

[jerrylev]

Wait a minute. let say I own a house and the city wants to build a garbage disposal next to my home and I oppose it and vote NO. But the majority of people vote Yes and the city builds the garbage disposal and it stinks and pollutes the area to high heaven and I cannot sue since I voted No or didn't vote?

It is actually the LAW.

https://www.law.cornell.edu/cfr/text/12/708a.312

(a)Applicability of State law. While NCUA's merger rules apply to all mergers of Federally insured credit unions, Federally insured State chartered credit unions (FISCUs) are also subject to State law on mergers. NCUA's position is that no merger of a State chartered credit union is authorized unless permitted by State law, and also that a State legislature or State supervisory authority may impose merger requirements more stringent or restrictive than NCUA's. States that permit mergers may have substantive and procedural requirements that vary from Federal law. For example, there may be different voting standards for approving a vote. While the Federal Credit Union Act requires a simple majority of those who vote to approve a merger, some States have higher voting standards requiring two-thirds or more of those who vote.