§747.203. Notice of charges.
12 C.F.R. § 747.203
Whenever the NCUA Board determines that grounds for termination of insured status exists, it will, for the purpose of securing correction of errant or illegal conditions, serve a Notice of Charges upon the concerned credit union. This notice will contain a statement describing the unsafe or unsound practices, condition or the relevant violations.
In the case of an insured State-chartered credit union, the NCUA Board shall send a copy of the Notice of Charges to the appropriate State authority, if any, having supervision over the credit union.
Notes, amendments, and revision history
Amendments
[56 FR 37767, Aug. 8, 1991, as amended at 75 FR 34622, June 18, 2010]
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
[56 FR 37767, Aug. 8, 1991, as amended at 75 FR 34622, June 18, 2010]