§ 170.7. Membership denial (section 17(b)(9) of the Act).
90 words·~1 min read·
/us/cfr/t17/s§ 170.7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A futures association must provide a fair and orderly procedure for processing membership applications and for affording any person to be denied membership an opportunity to submit evidence in response to the grounds for denial stated by the association. The procedures governing denials of membership in the association shall contain, at a minimum, the procedural safeguards contained in section 17(b)(9) of the Act. (Approved by the Office of Management and Budget under control number 3038-0022) \[44 FR 20651, Apr. 6, 1979, as amended at 46 FR 63036, Dec. 30, 1981\]