12 CFR 747.208 - Duties after termination.

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§ 747.208 Duties after termination.

(a) After the termination of the insured status of any credit union under section 206(b) of the Act ( 12 U.S.C. 1786(b)), insurance of its member accounts to the extent they were insured on the effective date of such termination, less any amounts thereafter withdrawn which reduce the accounts below the amount covered by insurance on the effective date of such termination, shall continue for a period of one year, but no shares issued by the credit union or deposits made after the date of such termination shall be insured by the NCUA Board.

(b) The credit union shall continue to pay premiums to the NCUA Board during such period and the Board shall have the right to examine the credit union from time to time during the period. The credit union shall, in all other respects, be subject to the duties and obligations of an insured credit union during the one year period. If the credit union is closed for liquidation within this period, the Board shall have the same powers and rights with respect to such credit union as in the case of an insured credit union.

[ 56 FR 37767, Aug. 8, 1991; 57 FR 523, Jan. 7, 1992]

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.

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United States Code
Statutes at Large
Public Laws

Title 12 published on 17-Nov-2018 03:48

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

  • 2018-11-06; vol. 83 # 215 - Tuesday, November 6, 2018
    1. 83 FR 55467 - Risk-Based Capital
      GPO FDSys XML | Text
      Final rule; supplemental.
      The effective date of the final rule published on October 29, 2015 (80 FR 66625) is delayed until January 1, 2020. In addition, the amendments to § 702.103 in this final rule are effective on January 1, 2020.
      12 CFR Parts 700, 701, 702, 703, 713, 723, and 747