[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: 12CFR747.205]

[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. 747.205  Order terminating insured status.

    If, upon the record of the hearing held pursuant to Sec. 747.204, 
the NCUA Board finds that any unsafe or unsound practice or condition or 
violation specified in the notice has been established and has not been 
corrected within the time prescribed under Sec. 747.204, the NCUA Board 
may issue and serve upon the credit union an order terminating its 
status as an insured credit union on a date subsequent to the date of 
such finding and subsequent to the expiration of the time specified in 
the Notice.