§ 747.301. Scope.
161 words·~1 min read·
/us/cfr/t12/s§ 747.301·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The rules and procedures set forth in this subpart are applicable to informal proceedings conducted by the NCUA Board, or a Presiding Officer designated by the Board, pursuant to section 206(i) of the Act (12 U.S.C. 1786(i)), to suspend, remove and/or prohibit from office or from further participation any institution-affiliated party of an insured credit union who:
(a)Is charged in a state, Federal or territorial information or indictment or complaint with committing or participating in a crime involving dishonesty or breach of trust, which crime is punishable by imprisonment for a term exceeding one year under state or Federal law; or
(b)Enters a pretrial diversion or other similar program as result of being charged in such information or indictment or complaint with participating or committing such crime; or
(c)Is convicted of such crime. Subpart A of this part does not apply to proceedings under this subpart. [56 FR 37767, Aug. 8, 1991; 57 FR 523, Jan. 7, 1992]