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Golden Parachute and Indemnification Payments-Technical Correction

NCUA · final-rule · Published 2011-06-24 · Effective 2011-06-27 · 76 FR 36979

Document

Document number
2011-15729
Federal Register citation
76 FR 36979
CFR reference
12 CFR 750
Type
Rule
Action
Interim final rule with request for comments.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2011-06-24
Effective date
2011-06-27

Abstract

NCUA is issuing a technical correction to its rule restricting a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP), published in the Federal Register of May 26, 2011. The amendment corrects an exception to the definition of golden parachute payment pertaining to plans offered under Sec. 457 of the Internal Revenue Code.

Source

Authoritative
Federal Register document
Machine
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