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Golden Parachute and Indemnification Payments

NCUA · final-rule · Published 2011-05-26 · Effective 2011-06-27 · 76 FR 30510

Document

Document number
2011-12827
Federal Register citation
76 FR 30510
CFR reference
12 CFR 704
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2011-05-26
Effective date
2011-06-27

Abstract

NCUA is issuing a final rule to prohibit, in certain circumstances, a Federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution- affiliated party (IAP). The rule will help safeguard the National Credit Union Share Insurance Fund (NCUSIF) by preventing the wrongful or improper disposition of FICU assets and inhibit unwarranted rewards to IAPs that can contribute to an FICU's troubled condition.

Source

Authoritative
Federal Register document
Machine
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