12 CFR 747.904 - Appeal. | Title 12 - Banks and Banking | Code of Federal Regulations

§ 747.904

Appeal.

(a) Time for filing. Within 15 days after issuance of a Notice of Disapproval or a determination on a request for reconsideration by the Regional Director, the individual or credit union (henceforth petitioner) may appeal by filing with the NCUA Board a written request for appeal.

(b) Contents of request. Any appeal must be in writing and include:

(1) The reasons why the NCUA Board should review the disapproval; and

(2) Relevant, substantive and material facts that for good cause were not previously set forth in the notice required to be filed pursuant to section 212 of the Act (12 U.S.C. 1790a) and § 701.14 of this chapter.

(c) Procedures for review of request. Within 30 days of the NCUA Board's receipt of an appeal, the NCUA Board may request in writing that the petitioner submit additional facts and records to support the appeal. The petitioner shall have 15 days from the date of issuance of such written request to provide such additional information. Failure by the petitioner to provide additional information may, as determined solely by the NCUA Board or its designee, result in denial of the petitioner's appeal.

(d) Determination on appeal by NCUA Board or its designee. (1) Within 90 days from the date of the receipt of an appeal by the NCUA Board or its designee or of its receipt of additional information requested under paragraph (c) of this section, the NCUA Board or its designee shall notify the petitioner whether the disapproval will be continued, terminated, or otherwise modified. The NCUA Board or its designee shall promptly rescind or modify the notice of disapproval where the decision is favorable to the petitioner.

(2) The determination by the NCUA Board on the appeal shall be provided to the petitioner in writing, stating the basis for any decision of the NCUA Board or its designee that is adverse to the petitioner, and shall constitute a final order of the NCUA Board.

(3) Failure by the NCUA Board to issue a determination on the petitioner's appeal within the 90-day period prescribed under paragraph (d)(1) of this section shall be deemed a denial of the appeal for purpose of § 747.905.

[56 FR 37767, Aug. 8, 1991; 57 FR 523, Jan. 7, 1992, as amended at 60 FR 31911, June 19, 1995]

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

78 FR 4026 - Definition of Troubled Condition

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2013-00863
RIN	3133-AD97

NATIONAL CREDIT UNION ADMINISTRATION

Final rule.

This rule is effective February 19, 2013.

12 CFR Parts 700, 701, 741, 747, and 750

Summary

The NCUA Board (Board) is issuing a final rule amending the definition of “troubled condition” as that term is used to trigger the statutory requirement to give the Board notice and an opportunity to disapprove a change of credit union officials, and as that term appears elsewhere in NCUA's regulations. Generally, the current definition allows only a state supervisory authority (SSA) to declare a federally insured, state-chartered credit union (FISCU) to be in “troubled condition.” The final rule amends the definition to allow either NCUA or an SSA to declare a FISCU in “troubled condition.” NCUA is adopting the amended definition of “troubled condition” as proposed.

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

§ 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

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

78 FR 4026 - Definition of Troubled Condition

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2013-00863
RIN	3133-AD97

NATIONAL CREDIT UNION ADMINISTRATION

Final rule.

This rule is effective February 19, 2013.

12 CFR Parts 700, 701, 741, 747, and 750

Summary

The NCUA Board (Board) is issuing a final rule amending the definition of “troubled condition” as that term is used to trigger the statutory requirement to give the Board notice and an opportunity to disapprove a change of credit union officials, and as that term appears elsewhere in NCUA's regulations. Generally, the current definition allows only a state supervisory authority (SSA) to declare a federally insured, state-chartered credit union (FISCU) to be in “troubled condition.” The final rule amends the definition to allow either NCUA or an SSA to declare a FISCU in “troubled condition.” NCUA is adopting the amended definition of “troubled condition” as proposed.

12 CFR 747.904 - Appeal.

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