Code of Federal Regulations · Section
§ 747.203 — Notice Of Charges
12 C.F.R. § 747.203
View:
(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.
Authorizing Statute
-
Flood insurance purchase and compliance requirements and escrow accounts42 U.S.C. § 4012a
-
Powers of Board12 U.S.C. § 1766
-
Appraisal independence requirements15 U.S.C. § 1639e