Compliance provisions.

CFR · 2024-01-01 · US · Title 12

(a) (2) If the NGEP does not comply within the time period established by the Board, the agreement shall thereafter be unenforceable by that NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y). (3) The Board may assist any insured depository institution or affiliate that is a party to a covered agreement that is unenforceable by a NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y) in identifying a successor to assume the NGEP's responsibilities under the agreement. (b) (1) Order the individual to disgorge the diverted funds or resources received under the agreement; (2) Prohibit the individual from being a party to any covered agreement for a period not to exceed 10 years. (c) (d) (e)

official document · source cfr-2024 · id 12:§ 207.9