(a) For purposes of seeking judicial review of actions taken pursuant to this subpart, only a determination on appeal issued by the Board pursuant to§ 745.202 of this subpart shall constitute a final determination regarding an accountholder's claim for insurance.
(b) Failure to file an appeal with regard to an initial determination, or a decision rendered on a request for reconsideration with the applicable time periods shall constitute a failure by the accountholder to exhaust available administrative remedies and, due to such failure, any objections to the initial determination or request for reconsideration shall be deemed to be waived and such determination shall be deemed to have been accepted by, and binding upon, the accountholder.
(c) Final determination by the Board is reviewable in accordance with the provisions of chapter 7, title 5, UnitedStates Code, by the United States district court for the Federal judicial district where the credit union's principal place of business is located. Such action must be filed not later than 60 days after such final determination is ordered.
[51 FR 37560, Oct. 23, 1986, as amended at 71 FR 67440, Nov. 22, 2006]
Title 12 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 12 CFR Part 745.
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.