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MATTER OF UP STATE FED. CREDIT UNION

246 A.D.2d 704 (1998)

667 N.Y.S.2d 481

In the Matter of Up State Federal Credit Union, Appellant. John E. Sweeney, as Commissioner of Labor, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

January 8, 1998

Sometime prior to 1993, the National Credit Union Administration (hereinafter NCUA) initiated insolvency proceedings against the RDC Federal Credit Union (hereinafter RDC) that eventually resulted in the purchase from NCUA by Up State Federal Credit Union (hereinafter Up State) of some of the loans RDC had made and the acceptance, with some exceptions, of RDC's accounts. Thereafter, the Commissioner of Labor determined that a transfer had occurred pursuant to Labor Law &...

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