12 CFR 747.203
§ 747.203 Notice of charges.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 747.203, § 747.203 Notice of charges, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48859
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Full text
(a) Whenever the NCUA Board determines that grounds for termination of insured status exists, it will, for the purpose of securing correction of errant or illegal conditions, serve a Notice of Charges upon the concerned credit union. This notice will contain a statement describing the unsafe or unsound practices, condition or the relevant violations.
(b) In the case of an insured State-chartered credit union, the NCUA Board shall send a copy of the Notice of Charges to the appropriate State authority, if any, having supervision over the credit union.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.