{"data":{"id":"us/12-cfr-622.55","jurisdiction":"us","citation":"12 CFR 622.55","heading":"Notice of assessment of civil money penalty.","body":"(a) Notice of assessment. The notice of assessment for a civil money penalty will state:\n(1) The legal authority for the assessment;\n(2) The amount of the civil money penalty being assessed;\n(3) The date by which the civil money penalty must be paid;\n(4) The matter of fact or law constituting the grounds for assessment of the civil money penalty;\n(5) The right of the institution or person being assessed to a formal hearing to challenge the assessment;\n(6) That failure to request a hearing constitutes a waiver of the opportunity for a hearing and the notice of assessment will constitute a final and unappealable order; and\n(7) The time limit to request such a formal hearing.\n(b) Service. The notice of assessment may be served upon the institution or person being assessed by personal service or by certified mail with a return receipt to the institution's or the person's last known address. Such service constitutes issuance of the notice.","path":["Title 12—Banks and Banking","CHAPTER VI—FARM CREDIT ADMINISTRATION","SUBCHAPTER B—FARM CREDIT SYSTEM","PART 622—RULES OF PRACTICE AND PROCEDURE","Subpart B—Rules and Procedures for Assessment and Collection of Civil Money Penalties"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"47b6f34ab17632993fb6bee1b80b334bc02c30db8dab8ce359559ff48e91a42c","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-622.53-622.54","next":"us/12-cfr-622.56"},"notice":"GroundRules: Original legal text. Not legal advice."}