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Public Unit and Nonmember Shares

NCUA · final-rule · Published 2019-10-31 · Effective 2020-01-29 · 84 FR 58305

Document

Document number
2019-23679
Federal Register citation
84 FR 58305
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2019-10-31
Effective date
2020-01-29

Abstract

The NCUA Board (Board) is amending the NCUA's public unit and nonmember share rule to allow federal credit unions (FCU) to receive public unit and nonmember shares up to 50 percent of the credit union's net amount of paid-in and unimpaired capital and surplus less any public unit and nonmember shares. This final rule also makes a conforming change to the NCUA's regulations that apply the public unit and nonmember share limit to all federally insured credit unions (FICUs). The final rule follows publication of a May 30, 2019, proposed rule and takes into consideration the public comments received on the proposed rule.

Source

Authoritative
Federal Register document
Machine
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