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CFR › Title 12 › Chapter VII › Subchapter A › Part 747 › Subpart G › Section 747.607

12 CFR 747.607 - Statement of net worth.

There is 1 rule appearing in the Federal Register for 12 CFR 747. Select the tab below to view, or View eCFR (GPOAccess)
§ 747.607
Statement of net worth.
(a) Each applicant (other than a qualified tax-exempt organization or cooperative association) must provide a detailed statement showing the net worth of the applicant and any affiliates, as defined in § 747.602(a), when the proceeding was initiated. The exhibit may be in any form convenient to the applicant that provides full disclosure of the applicant's and its affiliates' assets and liabilities and is sufficient to determine whether the applicant is an eligible party. The administrative law judge or the NCUA Board may require additional information from the applicant to determine eligibility. Unless otherwise ordered by the Board or required by law, the statement shall be kept confidential and used by the NCUA Board only in making its determination of an award.
(b) If the applicant or any of its affiliates is a Federal credit union, the portion of the statement of net worth which relates to the Federal credit union shall consist of a copy of the Federal credit union's last Statement of Financial Condition filed before the initiation of the underlying proceeding.
(c) All statements of net worth shall describe any transfers of assets from or obligations incurred by the applicant or any affiliate, occurring in the six-month period prior to the date on which the proceeding was initiated, which reduced the net worth of the applicant and its affiliates below the applicable net-worth ceiling. If there were none, the applicant shall so state.
[56 FR 37767, Aug. 8, 1991, as amended at 75 FR 34622, June 18, 2010]

Title 12 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2013-01-18; vol. 78 # 13 - Friday, January 18, 2013
    1. 78 FR 4026 - Definition of Troubled Condition
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule.
      This rule is effective February 19, 2013.
      12 CFR Parts 700, 701, 741, 747, and 750

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 12 - BANKS AND BANKING

§ 1766 - Powers of Board

§ 1782 - Administration of insurance fund

§ 1784 - Examination of insured credit unions

§ 1785 - Requirements governing insured credit unions

§ 1786 - Termination of insured credit union status; cease and desist orders; removal or suspension from office; procedure

§ 1787 - Payment of insurance

§ 1790a - Board disapproval of directors, committee members, and senior executive officers of insured credit unions

§ 1790d - Prompt corrective action

U.S.C. : Title 42 - THE PUBLIC HEALTH AND WELFARE

§ 4012a - Flood insurance purchase and compliance requirements and escrow accounts

Statutes at Large

120 Stat. 1966

Public Laws

104-134

109-351

Title 12 published on 2012-01-01

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

  • 2013-01-18; vol. 78 # 13 - Friday, January 18, 2013
    1. 78 FR 4026 - Definition of Troubled Condition
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule.
      This rule is effective February 19, 2013.
      12 CFR Parts 700, 701, 741, 747, and 750