478. No financial services cooperative may, by itself or jointly with a credit union or a federation belonging to its network, directly or through a holding company it controls, acquire shares of a legal person referred to in the second paragraph of section 473 or in section 474 for the purpose of acquiring control of it unless the legal person, by a resolution of its board of directors a copy of which shall be sent to the Inspector General, makes an undertaking to the cooperative and the Inspector General, within 60 days after the acquisition,(1) not to engage in any activity other than those it was carrying on at the time of the acquisition, unless it has obtained authorization in writing from the Inspector General;
(2) to submit its annual financial statements to the Inspector General together with any other statement or information the Inspector General may require and to allow the Inspector General to exercise the powers set out in section 556 to verify the accuracy of the statements or information.