12 CFR 797.6
§ 797.6 Administrative offset prior to completion of procedures.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 797.6, § 797.6 Administrative offset prior to completion of procedures, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49131
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Full text
Prior to the completion of the procedures described in § 797.7, NCUA may effect administrative offset if failure to offset would substantially prejudice its ability to collect the debt, and if the time before the payment is to be made does not reasonably permit completion of the procedures described in § 797.7. Such prior administrative offset shall be followed promptly by the completion of the procedures described in § 797.7.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.