---
kind: "section"
citation: "12 C.F.R. § 747.2001"
title: "12"
number: "747.2001"
heading: "Scope."
url: "https://uscodex.org/cfr/12/747.2001"
---

# §747.2001. Scope.

- (a) **Independent review process.** The rules and procedures set forth in this subpart apply to federally insured credit unions, whether federally- or state-chartered (other than corporate credit unions), which are subject to discretionary supervisory actions under [part 702](/cfr/12/part702.md) of this chapter, and to reclassification under §§ [702.102(b)](/cfr/12/702.102.md?p=b) and [702.202(d)](/cfr/12/702.202.md?p=d) of this chapter, to facilitate prompt corrective action under section 216 of the Federal Credit Union Act, [12 U.S.C. 1790d](/usc/12/1790d.md); and to senior executive officers and directors of such credit unions who are dismissed pursuant to a discretionary supervisory action imposed under [part 702](/cfr/12/part702.md). NCUA staff decisions to impose discretionary supervisory actions under [part 702](/cfr/12/part702.md) shall be considered material supervisory determinations for purposes of [12 U.S.C. 1790d(k)](/usc/12/1790d.md?p=k). [Section 747.2002](/cfr/12/747.2002.md) of this subpart provides an independent appellate process to challenge such decisions.
- (b) **Notice to State officials.** With respect to a federally insured State-chartered credit union under §§ [747.2002](/cfr/12/747.2002.md), [747.2003](/cfr/12/747.2003.md) and [747.2004](/cfr/12/747.2004.md) of this subpart, notices, directives and decisions on appeal served upon a credit union, or a dismissed director or officer thereof, by the NCUA Board shall also be served upon the appropriate State official. Responses, requests for a hearing and to present witnesses, requests to modify or rescind a discretionary supervisory action and requests for reinstatement served upon the NCUA Board by a credit union, or dismissed director or officer thereof, shall also be served upon the appropriate State official.

## Notes

### Amendments

[65 FR 8594, Feb. 18, 2000, as amended at 80 FR 66723, Oct. 29, 2015]

### Source

Source: 65 FR 8594, Feb. 18, 2000, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787, 1790a, 1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L. 104-134; Pub. L. 109-351; Pub. L. 114-74.

### Source

Source: 56 FR 37767, Aug. 8, 1991, unless otherwise noted.

### Amendments

[65 FR 8594, Feb. 18, 2000, as amended at 80 FR 66723, Oct. 29, 2015]