§ 747.206 Consent to termination of 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 › § 747.206: § 747.206 Consent to termination of insured status.

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

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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.

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