Code of Federal Regulations · Section
§ 308.130 — Effective Date Of Order And Service On Bank
12 C.F.R. § 308.130
(a) Effective date. A cease-and-desist order issued by the Board of Directors after a hearing, and a cease-and-desist order issued based upon a default, shall become effective at the expiration of 30 days after the service of the order upon the bank or its official. A cease-and-desist order issued upon consent shall become effective at the time specified therein. All cease-and-desist orders shall remain effective and enforceable, except to the extent they are stayed, modified, terminated, or set aside by the Board of Directors or its designee or by a reviewing court.
(b) Service on banks. In cases where the bank is not the respondent, the cease-and-desist order shall also be served upon the bank.
Authorizing Statute
-
Mode of recovery28 U.S.C. § 2461
-
Flood insurance purchase and compliance requirements and escrow accounts42 U.S.C. § 4012a
-
Violation of provisions of chapter12 U.S.C. § 93
-
Practice before the Department31 U.S.C. § 330
-
Costs and fees of parties5 U.S.C. § 504