§ 802.1002. Effect of determinations.
164 words·~1 min read·
/us/cfr/t31/s§ 802.1002·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A determination under § 802.1001(a) shall take effect immediately upon publication of a notice of such determination under § 802.1001(c) and remain in effect unless rescinded under § 802.1001(b).
(b)A rescission of a determination under § 802.1001(b) shall take effect on the date specified in the notice published under § 802.1001(c).
(c)A determination under § 802.1001(a) does not apply to any transaction for which a declaration or notice has been accepted by the Staff Chairperson under § 802.403(a)(1) or § 802.503(a), respectively.
(d)A rescission of a determination under § 802.1001(b) does not apply to any transaction for which:
(1)The completion date is prior to the date upon which the rescission of a determination under paragraph
(b)of this section becomes effective; or
(2)Before publication of the rescission of determination under § 802.1001(c), the parties to the transaction have executed a binding written agreement, or other binding document, establishing the material terms of the transaction that is ultimately consummated.