§ 797.24 Certification where NCUA is the paying agency.
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Title 12 CFR: Banks and Banking › Chapter VII: NATIONAL CREDIT UNION ADMINISTRATION › Part 797: PROCEDURES FOR DEBT COLLECTION › Subpart C: Salary Offset › § 797.24: § 797.24 Certification where NCUA is the paying agency.
Text
(a) Upon issuance of a proper certification by NCUA or upon receipt of a proper certification from another creditor agency, NCUA shall send the employee a written notice of salary offset.
(b) Such written notice of salary offset shall advise the employee of the:
(1) Certification that has been issued by NCUA or received from another creditor agency;
(2) Amount of the debt and of the deductions to be made; and
(3) Date and pay period when the salary offset will begin.
(c) If NCUA is not the creditor agency, NCUA shall provide a copy of the notice to the creditor agency and advise the creditor agency of the dollar amount to be offset and the pay period when the offset will begin.
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