12 CFR 747.406 - Cancellation of charter.

Regulations last checked for updates: Feb 11, 2026

Title 12 - Banks and Banking last revised: Dec 01, 2026

View all text of Subpart E [§ 747.401 - § 747.406]

§ 747.406 - Cancellation of charter.

Upon the completion of the liquidation and certification by the agent for the liquidating agent that the distribution of the assets of the Federal credit union has been completed, the NCUA Board shall cancel the charter of the Federal credit union concerned.

authority: 12 U.S.C. 1766,1782,1784,1785,1786,1787,1790a,1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L. 104-134; Pub. L. 109-351; Pub. L. 114-74

source: 56 FR 37767, Aug. 8, 1991, unless otherwise noted.

cite as: 12 CFR 747.406