# Regulatory Flexibility Regarding Ownership of Fixed Assets
> **US National Credit Union Administration** · Final rule. · Published 2009-03-26 · Effective 2009-04-27 · 74 FR 13082
## Document
- **Document number:** E9-6730
- **Category:** final-rule
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 74 FR 13082
- **CFR reference:** 12 CFR 701
- **Publication date:** 2009-03-26
- **Effective date:** 2009-04-27
## Abstract

NCUA is amending its Regulatory Flexibility (RegFlex) Program to provide additional flexibility to qualifying federal credit unions (FCUs) when acquiring unimproved land for future expansion. Previously, when an FCU acquired unimproved land for future expansion and did not fully occupy the completed premises within one year, it was required to partially occupy the completed premises within three years or obtain a waiver. This amendment increases the three years to six years for RegFlex FCUs without a waiver. NCUA is also making conforming amendments to its fixed asset rule to be consistent with the RegFlex changes.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2009/03/26/E9-6730/regulatory-flexibility-regarding-ownership-of-fixed-assets)
---
*AI Analytics · CC0 1.0*