Regulations last checked for updates: Oct 18, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024
All TitlesTitle 12Chapter VIIPart 747Subpart E - Subpart E—Local Rules and Procedures Applicable to Proceedings Relating to the Suspension or Revocation of Charters and to Involuntary Liquidations Under Title I
View all text of Subpart E [§ 747.401 - § 747.406]
§ 747.406 - Cancellation of charter.

Upon the completion of the liquidation and certification by the agent for the liquidating agent that the distribution of the assets of the Federal credit union has been completed, the NCUA Board shall cancel the charter of the Federal credit union concerned.

authority: 12 U.S.C. 1766,1782,1784,1785,1786,1787,1790a,1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L. 104-134; Pub. L. 109-351; Pub. L. 114-74
source: 56 FR 37767, Aug. 8, 1991, unless otherwise noted.
cite as: 12 CFR 747.406
© 2014 CustomsMobile | Disclaimer | Privacy | About