Statutes, codes, and regulations
Code of Federal Regulations
Title 12 - BANKS AND BANKINGChapter VII - NATIONAL CREDIT UNION ADMINISTRATIONSubchapter A - REGULATIONS AFFECTING CREDIT UNIONSPart 747 - ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS
Subpart C - LOCAL RULES AND PROCEDURES APPLICABLE TO PROCEEDINGS FOR THE INVOLUNTARY TERMINATION OF INSURED STATUS
Section 747.206 - Consent to termination of insured status

12 C.F.R. § 747.206

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Current through May 31, 2024
Section 747.206 - Consent to termination of insured status

Unless the credit union appears at the hearing designated in the notice of hearing by a duly authorized representative, it will be deemed to have consented to the termination of its status as an insured credit union. In the event the credit union fails to so appear at such hearing, the administrative law judge shall forthwith report the matter to the NCUA Board and the NCUA Board may thereupon issue an order terminating the credit union's insured status.

12 C.F.R. §747.206