CFR > Title 12 - Banks and Banking > CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION > SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS (parts 700 to 761) > PART 747—ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS > SUBPART C—Local Rules and Procedures Applicable to Proceedings for the Involuntary Termination of Insured Status (§747.201 to §747.208) > 747.201—Scope.

747.201—Scope.

Under the authority of section 206(b) of the Act (12 U.S.C. 1786(b) ), the NCUA Board may terminate the insured status of an insured credit union upon the grounds set forth therein and enumerated in § 747.202. The procedure for terminating the insured status of an insured credit union as therein prescribed will be followed and hearings required thereunder will be conducted in accordance with the rules and procedures set forth in this subpart and subpart A of this part. To the extent any rule or procedure of subpart A is inconsistent with a rule or procedure prescribed in this subpart C, subpart C shall control.

Code of Federal Regulations

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