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 Code of Federal Regulations (Last Updated: July 5, 2024)
 Title 12 - Banks and Banking
 Chapter VII - National Credit Union Administration
 SubChapter A - Regulations Affecting Credit Unions
 Part 747 - Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations
 Subpart J - Local Procedures and Standards Applicable to a Notice of Change in Senior Executive Officers, Directors or Committee Members Pursuant to Section 212 of the Act

  § 747.903 - Procedures where notice of disapproval issued; reconsideration.  

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  • § 747.903 Procedures where notice of disapproval issued; reconsideration.

    (a) The notice of disapproval shall be served upon the federally insured credit union and the candidate for director, committee member or senior executive officer. The notice of disapproval shall:

    (1) Summarize or cite the relevant consideration specified in § 747.902;

    (2) Inform the individual and the credit union that, within 15 days of receipt of the notice of disapproval, they can request reconsideration by the Regional Director of the initial determination, or can appeal the determination directly to the NCUA Board;

    (3) Specify what additional information, if any, must be considered in the reconsideration.

    (b) The request for reconsideration by the Regional Director must be filed at the appropriate Regional Office.

    (c) The Regional Director shall act on a request for reconsideration within 30 days of its receipt.

    [56 FR 37767, Aug. 8, 1991; 57 FR 523, Jan. 7, 1992]