GroundRules
12 CFR 308.130: Effective date of order and service on bank.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION
- SUBCHAPTER A—PROCEDURE AND RULES OF PRACTICE
- PART 308—RULES OF PRACTICE AND PROCEDURE
- Subpart G—Rules and Procedures Applicable to Proceedings Relating to Cease-and-Desist Orders
(a) Effective date. A cease-and-desist order issued by the Board of Directors after a hearing, and a cease-and-desist order issued based upon a default, shall become effective at the expiration of 30 days after the service of the order upon the bank or its official. A cease-and-desist order issued upon consent shall become effective at the time specified therein. All cease-and-desist orders shall remain effective and enforceable, except to the extent they are stayed, modified, terminated, or set aside by the Board of Directors or its designee or by a reviewing court.
(b) Service on banks. In cases where the bank is not the respondent, the cease-and-desist order shall also be served upon the bank.
Collected 2026-08-27T02:24:16Z. Source file · JSON