# 12 C.F.R. § 714.6 (2026): Are you required to retain salvage powers over the leased property?

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_6

## Section

- **Citation:** 12 C.F.R. § 714.6 (2026)
- **Heading:** Are you required to retain salvage powers over the leased property?
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter VII: NATIONAL CREDIT UNION ADMINISTRATION / Part 714: LEASING / § 714.6: § 714.6   Are you required to retain salvage powers over the leased property?

## Text

You must retain salvage powers over the leased property. Salvage powers protect you from a loss and provide you with the power to take action if there is an unanticipated change in conditions that threatens your financial position by significantly increasing your exposure to risk. Salvage powers allow you:
(a) As the owner and lessor, to take reasonable and appropriate action to salvage or protect the value of the property or your interests arising under the lease; or
(b) As the assignee of a lease, to become the owner and lessor of the leased property pursuant to your contractual rights, or take any reasonable and appropriate action to salvage or protect the value of the property or your interests arising under the lease.

## Nearby sections

- [12 C.F.R. § 714.1 (2026) § 714.1   What does this part cover?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_1.md)
- [12 C.F.R. § 714.2 (2026) § 714.2   What are the permissible leasing arrangements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_2.md)
- [12 C.F.R. § 714.3 (2026) § 714.3   Must you own the leased property in an indirect leasing arrangement?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_3.md)
- [12 C.F.R. § 714.4 (2026) § 714.4   What are the lease requirements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_4.md)
- [12 C.F.R. § 714.5 (2026) § 714.5   What is required if you rely on an estimated residual value greater than 25% of the original cost of the leased property?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_5.md)
- [12 C.F.R. § 714.6 (2026) § 714.6   Are you required to retain salvage powers over the leased property?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_6.md)
- [12 C.F.R. § 714.7 (2026) § 714.7   What are the insurance requirements applicable to leasing?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_7.md)
- [12 C.F.R. § 714.8 (2026) § 714.8   Are the early payment provisions, or interest rate provisions, applicable in leasing arrangements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_8.md)
- [12 C.F.R. § 714.10 (2026) § 714.10   What other laws must you comply with when engaged in leasing?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_6. Check the current official text before relying on it. Not legal advice.