69U-110.062. Capitalization Criteria for Conservatorship or Involuntary Liquidation Actions

Effective on Monday, June 28, 2021

1The office may take action to have a credit union placed into a conservatorship or involuntary liquidation upon finding that, among other reasons, the credit union is significantly undercapitalized or undercapitalized, and has no reasonable prospect of becoming adequately capitalized. The criteria for such determination of capitalization shall be as defined in the net worth categories contained in 5912 U.S.C. §1790d(c) 62(2018), 63http://www.flrules.org/Gateway/reference.asp?No=Ref-13206, 65and 6612 C.F.R. Part 702 70(1-1-2020 Edition), 72http://www.flrules.org/Gateway/reference.asp?No=Ref-13207, 74which are incorporated by reference. This material is also available on the OFR’s website, www.flofr.gov.

89Rulemaking Authority 91655.012(2), 92657.062(1)(c), 93657.063(1) FS. 95Law Implemented 97657.062, 98657.063 FS. 100History–New 3-6-07, Amended 6-28-21.

Historical Versions(1)

Select effective date to view different version.

Related Statutes:

Related Notices (4)

Reference Materials (2)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');