Prompt corrective action for uncapitalized new credit unions.

CFR · 2024-01-01 · US · Title 12

(a) (1) (2) (i) Has not increased its net worth ratio consistent with its then-present approved business plan; (ii) Has no then-present approved business plan; or (iii) Has failed to comply with paragraph (a)(3) of this section; and (3) (b) (c) (1) (2) (i) The effective date of classification as uncapitalized; or (ii) The last day of the calendar month following expiration of the time period provided in the credit union's (3) (d)

official document · source cfr-2024 · id 12:§ 702.205