[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: 12CFR747.204]

[Page 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. 747.204  Notice of intention to terminate insured status.

    Unless correction of the practices, condition, or violations set 
forth in the Notice of Charges is made within 120 days after service of 
such statement, or within a shorter period of not less than 20 days 
after such service as the NCUA Board may require in any case where it 
determines that the insurance risk with respect to such credit union 
could be unduly jeopardized by further delay or as the appropriate State 
supervisory authority shall require in the case of an insured State-
chartered credit union, the Board, if it determines to proceed further, 
shall give to the credit union not less than 30 days written notice of 
its intent to terminate the status of the credit union as an insured 
credit union. The notice shall contain a statement of the facts 
constituting the alleged unsafe or unsound practices or conditions or 
violations on which a hearing will be held. Such hearing shall commence 
not earlier than 30 days nor later than 60 days after the date of 
service of such notice upon the credit union, unless an earlier or later 
date is set by the NCUA Board at the request of the credit union.