12 CFR 747.207 - Notice of termination of insured status.

§ 747.207 Notice of termination of insured status.
Prior to the effective date of the termination of the insured status of an insured credit union under section 206(b) of the Act (12 U.S.C. 1786(b)) and at such time as the Board shall specify, the credit union shall mail to each member at his or her last address of record on the books of the credit union, and publish in not less than two issues of a local newspaper of general circulation, notices of the termination of its insured status, and the credit union shall furnish the NCUA Board with proof of publication of such notice. The notice shall be as follows:
NOTICE
(Date)
1. The status of the ___ as an insured credit union under the provisions of the Federal Credit Union Act, will terminate as of the close of business on the __ day of __;
2. Any deposits made by you after that date, either new deposits or additions to existing accounts, will not be insured by the National Credit Union Administration;
3. Accounts in the credit union on the __ day of __, __ up to a maximum of $100,000 for each member, will continue to be insured, as provided by the Federal Credit Union Act, for one (1) year after the close of business on the __ day of __, __: Provided, however,That any withdrawals after the close of business on the day of __, __; will reduce the insurance coverage by the amount of such withdrawals.
(Name of Credit Union)
(Address)
[56 FR 37767, Aug. 8, 1991; 57 FR 523, Jan. 7, 1992, as amended at 75 FR 34622, June 18, 2010]

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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United States Code
Statutes at Large
Public Laws

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 747 after this date.

  • 2014-02-27; vol. 79 # 39 - Thursday, February 27, 2014
    1. 79 FR 11184 - Prompt Corrective Action—Risk-Based Capital
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Proposed rule.
      Comments must be received on or before May 28, 2014.
      12 CFR Parts 700, 701, 702, 703, 713, 723, and 747