[Code of Federal Regulations]
[Title 12, Volume 6]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR747.19]

[Page 539-540]
 
                       TITLE 12--BANKS AND BANKING
 
            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION
 
PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS--Table of Contents
 
           Subpart A--Uniform Rules of Practice and Procedure
 
Sec. 747.19  Answer.

    (a) When. Within 20 days of service of the notice, respondent shall 
file an answer as designated in the notice. In a civil money penalty 
proceeding, respondent shall also file a request for a hearing within 20 
days of service of the notice.
    (b) Content of answer. An answer must specifically respond to each 
paragraph or allegation of fact contained in the notice and must admit, 
deny, or state

[[Page 540]]

that the party lacks sufficient information to admit or deny each 
allegation of fact. A statement of lack of information has the effect of 
a denial. Denials must fairly meet the substance of each allegation of 
fact denied; general denials are not permitted. When a respondent denies 
part of an allegation, that part must be denied and the remainder 
specifically admitted. Any allegation of fact in the notice which is not 
denied in the answer must be deemed admitted for purposes of the 
proceeding. A respondent is not required to respond to the portion of a 
notice that constitutes the prayer for relief or proposed order. The 
answer must set forth affirmative defenses, if any, asserted by the 
respondent.
    (c) Default--(1) Effect of failure to answer. Failure of a 
respondent to file an answer required by this section within the time 
provided constitutes a waiver of his or her right to appear and contest 
the allegations in the notice. If no timely answer is filed, the 
administrative law judge, upon motion of the Enforcement Counsel, shall 
file with the NCUA Board a recommended decision containing the findings 
and the relief sought in the notice. Any final order issued by the NCUA 
Board based upon a respondent's failure to answer is deemed to be an 
order issued upon consent.
    (2) Effect of failure to request a hearing in civil money penalty 
proceedings. If respondent fails to request a hearing as required by law 
within the time provided, the notice of assessment constitutes a final 
and unappealable order.