### Question
How does the law define voluntary dissolution and liquidation?


### Answer
Under *12 U.S.C. § 202*, **voluntary dissolution and liquidation** is defined as:

> a transaction pursuant to section 181 of this title that involves the assumption of the bank's insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern

#### Citation:
  - *12 U.S.C. § 202*
  - Heading: **CHAPTER 2-NATIONAL BANKS > SUBCHAPTER XIV-BANK CONSERVATION ACT**

