§ 797.13. Requests for administrative offset where NCUA is the creditor agency.
92 words·~1 min read·
/us/cfr/t12/s§ 797.13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)NCUA may request that a debt owed to NCUA be collected by administrative offset against funds due and payable to a debtor by another agency.
(b)In requesting administrative offset, NCUA, as creditor, shall certify in writing to the agency holding funds of the debtor:
(1)That the debtor owes the debt;
(2)The amount and basis of the debt; and
(3)That NCUA has complied with the requirements of its own administrative offset regulations and the applicable provisions of the FCCS with respect to providing the debtor with due process.