---
kind: "section"
citation: "12 C.F.R. § 622.55"
title: "12"
number: "622.55"
heading: "Notice of assessment of civil money penalty."
url: "https://uscodex.org/cfr/12/622.55"
---

# §622.55. Notice of assessment of civil money penalty.

- (a) **Notice of assessment.** The notice of assessment for a civil money penalty will state:
  - (1) The legal authority for the assessment;
  - (2) The amount of the civil money penalty being assessed;
  - (3) The date by which the civil money penalty must be paid;
  - (4) The matter of fact or law constituting the grounds for assessment of the civil money penalty;
  - (5) The right of the institution or person being assessed to a formal hearing to challenge the assessment;
  - (6) That failure to request a hearing constitutes a waiver of the opportunity for a hearing and the notice of assessment will constitute a final and unappealable order; and
  - (7) **The time limit to request such a formal hearing.**
- (b) **Service.** The notice of assessment may be served upon the institution or person being assessed by personal service or by certified mail with a return receipt to the institution's or the person's last known address. Such service constitutes issuance of the notice.

## Notes

### Amendments

[51 FR 21139, June 11, 1986, as amended at 70 FR 12585, Mar. 15, 2005]

### Source

Source: 53 FR 27284, July 19, 1988, unless otherwise noted.

### Authority

Authority: Secs. 5.9, 5.10, 5.17, 5.25-5.37 of the Farm Credit Act (12 U.S.C. 2243, 2244, 2252, 2261-2273); 28 U.S.C. 2461 note; and 42 U.S.C. 4012a(f).

### Source

Source: 51 FR 21139, June 11, 1986, unless otherwise noted.

### Amendments

[51 FR 21139, June 11, 1986, as amended at 70 FR 12585, Mar. 15, 2005]