StacksVerified U.S. regulatory reference

12 CFR §747.203

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)Whenever the NCUA Board determines that grounds for termination of insured status exists, it will, for the purpose of securing correction of errant or illegal conditions, serve a Notice of Charges upon the concerned credit union. This notice will contain a statement describing the unsafe or unsound practices, condition or the relevant violations.
  2. (b)In the case of an insured State-chartered credit union, the NCUA Board shall send a copy of the Notice of Charges to the appropriate State authority, if any, having supervision over the credit union.