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Code · CFR · Title 12 — Banks and Banking · Part 1012 — Special Rules of Practice (Regulation L) · § 1012.236

§ 1012.236. Notice of proceedings to withdraw a State's certification.

147 words·~1 min read·/us/cfr/t12/s§ 1012.236·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A proceeding pursuant to § 1010.505 of this chapter is commenced by issuance and service of a notice which shall contain:
(a)An identification of the state certification to which the notice applies.
(b)A clear and concise statement of material facts, sufficient to inform the respondent with reasonable definiteness of the basis for the Director's determination, pursuant to § 1010.505, that the State's laws, regulations and the administration thereof, taken as a whole, no longer meet the requirements of subpart C of part 1010.
(c)A notice of hearing rights of the state under § 1012.237 and of the procedures for invoking those rights.
(d)A notice that failure to file an answer conforming to the requirements of § 1081.201(b) and
(c)will result in an order suspending the State's certification. [76 FR 79524, Dec. 21, 2011, as amended at 81 FR 29119, May 11, 2016]
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