[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: 12CFR747.206]

[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. 747.206  Consent to termination of insured status.

    Unless the credit union appears at the hearing designated in the 
notice of hearing by a duly authorized representative, it will be deemed 
to have consented to the termination of its status as an insured credit 
union. In the event the credit union fails to so appear at such hearing, 
the administrative law judge shall forthwith report the matter to the 
NCUA Board and the NCUA Board may thereupon issue an order terminating 
the credit union's insured status.