§ 797.14. Requests for administrative offset from other federal agencies where NCUA is the paying agency.
106 words·~1 min read·
/us/cfr/t12/s§ 797.14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Any agency may request that funds due and payable to a debtor by NCUA be administratively offset in order to collect a debt owed to such agency by the debtor.
(b)NCUA shall initiate the requested administrative offset only upon receipt of a written certification from the creditor agency that:
(1)The debtor owes the debt, including the amount and basis of the debt;
(2)The agency has prescribed regulations for the exercise of administrative offset; and
(3)The agency has complied with its own administrative offset regulations and with the applicable provisions of the FCCS, with respect to providing the debtor with due process.