12 CFR 747.206
§ 747.206 Consent to termination of insured status.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 747.206, § 747.206 Consent to termination of insured status, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48862
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Full text
Unless the credit union appears at the hearing designated in the notice of hearing by a duly authorized representative, it will be deemed to have consented to the termination of its status as an insured credit union. In the event the credit union fails to so appear at such hearing, the administrative law judge shall forthwith report the matter to the NCUA Board and the NCUA Board may thereupon issue an order terminating the credit union's insured status.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.