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Voluntary Liquidation

NCUA · final-rule · Published 2014-06-26 · Effective 2014-07-28 · 79 FR 36196

Document

Document number
2014-14885
Federal Register citation
79 FR 36196
CFR reference
12 CFR 710
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2014-06-26
Effective date
2014-07-28

Abstract

The NCUA Board (Board) is issuing a final rule to amend its voluntary liquidation regulation to reduce administrative burdens on voluntarily liquidating federal credit unions (FCUs) and recognize technological advances by: Permitting liquidating FCUs to publish required creditor notices in either electronic media or newspapers of general circulation; increasing the asset-size threshold for requiring multiple creditor notices; requiring that preliminary partial distributions to members not exceed the National Credit Union Share Insurance Fund (NCUSIF) insurance limit for any member share account; specifying when liquidating FCUs must determine member share balances for the purposes of distributions; and permitting liquidating FCUs to distribute member share payouts either by wire or other electronic means or by mail or personal delivery.

Source

Authoritative
Federal Register document
Machine
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