12 CFR 797.24 - Certification where NCUA is the paying agency.

Regulations last checked for updates: Nov 26, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024

View all text of Subpart C [§ 797.17 - § 797.25]

§ 797.24 - Certification where NCUA is the paying agency.

(a) Upon issuance of a proper certification by NCUA or upon receipt of a proper certification from another creditor agency, NCUA shall send the employee a written notice of salary offset.

(b) Such written notice of salary offset shall advise the employee of the:

(1) Certification that has been issued by NCUA or received from another creditor agency;

(2) Amount of the debt and of the deductions to be made; and

(3) Date and pay period when the salary offset will begin.

(c) If NCUA is not the creditor agency, NCUA shall provide a copy of the notice to the creditor agency and advise the creditor agency of the dollar amount to be offset and the pay period when the offset will begin.

authority: 12 U.S.C. 1752a; 5 U.S.C. 5514; 31 U.S.C. 3711,3716,3720A,3720D

source: 73 FR 11341, Mar. 3, 2008, unless otherwise noted.

cite as: 12 CFR 797.24