12 CFR 702.203: Prompt corrective action for adequately capitalized new credit unions.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION
- SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS
- PART 702—CAPITAL ADEQUACY
- Subpart B—Alternative Prompt Corrective Action for New Credit Unions
Beginning on the effective date of classification, an adequately capitalized new credit union must increase the dollar amount of its net worth by the amount reflected in its approved initial or revised business plan in accordance with § 702.204(a)(2), or in the absence of such a plan, in accordance with § 702.106 until it is well capitalized.
Collected 2026-08-27T02:24:16Z. Source file · JSON