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Federal regulations · Through 2026-08-25 · Newer source version available

12 CFR 711.3: Prohibitions.

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Where this section sits in the code
  1. Title 12—Banks and Banking
  2. CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION
  3. SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS
  4. PART 711—MANAGEMENT OFFICIAL INTERLOCKS

(a) Community. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same community.

(b) RMSA. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same RMSA and each depository organization has total assets of $50 million or more.

(c) Major assets. A management official of a depository organization with total assets exceeding $2.5 billion (or any affiliate thereof) may not serve at the same time as a management official of an unaffiliated depository organization with total assets exceeding $1.5 billion (or any affiliate thereof), regardless of the location of the two depository organizations. The NCUA will adjust these thresholds, as necessary, based on year-to-year change in the average of the Consumer Price Index for the Urban Wage Earners and Clerical Workers, not seasonally adjusted, with rounding to the nearest $100 million. The NCUA will announce the revised thresholds by publishing a notice in the Federal Register.

Collected 2026-08-27T02:24:16Z. Source file · JSON

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