---
kind: "section"
citation: "12 C.F.R. § 1777.27"
title: "12"
number: "1777.27"
heading: "Exhaustion and review."
url: "https://uscodex.org/cfr/12/1777.27"
---

# §1777.27. Exhaustion and review.

- (a) **Judicial review—**
  - (1) **Review of certain actions.** An Enterprise that is not classified as critically undercapitalized may seek judicial review of a final notice of capital classification issued pursuant to [§ 1777.21(a)(3)](/cfr/12/1777.21.md?p=a-3) or a final notice of order issued pursuant to [§ 1777.26(a)](/cfr/12/1777.26.md?p=a) in accordance with [section 1369D](/cfr/12/1369D.md) of the 1992 Act ([12 U.S.C. 4623](/usc/12/4623.md))
  - (2) **Other review barred.** Except as set out in [paragraph (a)(1)](#a-1) of this section, or review of conservatorship appointments to the limited extent provided in [section 1369(b)](/cfr/12/1369.md?p=b) of the 1992 Act ([12 U.S.C. 4619(b)](/usc/12/4619.md?p=b)) and [§ 1777.28(c)](/cfr/12/1777.28.md?p=c), no court shall have jurisdiction to affect, by injunction or otherwise, the issuance or effectiveness of a capital classification or any other action of OFHEO pursuant to this subpart B, as provided in [section 1369D](/cfr/12/1369D.md) of the 1992 Act ([12 U.S.C. 4623](/usc/12/4623.md)).
- (b) **Exhaustion of administrative remedies.** In connection with any issue for which an Enterprise seeks judicial review in connection with an action described in [paragraph (a)(1)](#a-1) of this section, the Enterprise must have first exhausted its administrative remedies, by presenting all its objections, arguments, and information relating to such issue for OFHEO's consideration pursuant to [§ 1777.21(a)(2)](/cfr/12/1777.21.md?p=a-2), as part of the Enterprise's response to OFHEO's notice of capital classification, or pursuant to [§ 1777.25](/cfr/12/1777.25.md), as part of the Enterprise's response to OFHEO's notice of intent to issue an order.
- (c) **No stay pending review.** The commencement of proceedings for judicial review of a final capital classification or order as described in [paragraph (a)(1)](#a-1) of this section shall not operate as a stay thereof.

## Notes

### Authority

Authority: 12 U.S.C. 1452(b)(2), 1456(c), 1718(c)(2), 1723a(k), 4513(a), 4513(b), 4514, 4517, 4611-4619, 4622, 4623, 4631, 4635.

### Source

Source: 67 FR 3598, Jan. 25, 2002, unless otherwise noted.