§ 747.205 Order terminating insured status.
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Title 12 CFR: Banks and Banking › Chapter VII: NATIONAL CREDIT UNION ADMINISTRATION › Part 747: ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS › Subpart C: Local Rules and Procedures Applicable to Proceedings for the Involuntary Termination of Insured Status › § 747.205: § 747.205 Order terminating insured status.
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If, upon the record of the hearing held pursuant to § 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 § 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.
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