[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: 12CFR747.202]

[Page 551-552]
 
                       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 C--Local Rules and Procedures Applicable to Proceedings for the 
                Involuntary Termination of Insured Status
 
Sec. 747.202  Grounds for termination of insurance.

    The NCUA Board may institute proceedings to terminate the insured 
status of an insured credit union whenever it determines that an insured 
credit union is:

[[Page 552]]

    (a) Engaging or has engaged in unsafe or unsound practices in 
conducting its business;
    (b) In unsafe or unsound condition to continue as an insured credit 
union; or
    (c) Violating or has violated any applicable law, rule, regulation, 
order, written condition imposed by the NCUA Board in response to any 
application or request of the credit union, or any written agreement 
entered into with the NCUA Board.