Statutes, codes, and regulations
Code of Federal Regulations
Title 12 - BANKS AND BANKINGChapter VII - NATIONAL CREDIT UNION ADMINISTRATIONSubchapter B - REGULATIONS AFFECTING THE OPERATIONS OF THE NATIONAL CREDIT UNION ADMINISTRATIONPart 797 - PROCEDURES FOR DEBT COLLECTION
Subpart B - ADMINISTRATIVE OFFSET
Section 797.6 - Administrative offset prior to completion of procedures

12 C.F.R. § 797.6

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Current through November 30, 2024
Section 797.6 - Administrative offset prior to completion of procedures

Prior to the completion of the procedures described in § 797.7 , NCUA may effect administrative offset if failure to offset would substantially prejudice its ability to collect the debt, and if the time before the payment is to be made does not reasonably permit completion of the procedures described in § 797.7 . Such prior administrative offset shall be followed promptly by the completion of the procedures described in § 797.7 .

12 C.F.R. §797.6