12 U.S.C. 1786: Termination of insured credit union status; cease and desist orders; removal or suspension from office; procedure

2010

• Pub. L. 111–203, §362(3)(A)(i), substituted "(b)(9)" for "(b)(8)". (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(A)(ii), substituted "financial" for "depository" and inserted "and" at end. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(A)(iii), substituted "Agency" for "Board" and a period for "; and" at end. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(A)(iv), struck out cl. (vii) which read as follows: "the Resolution Trust Corporation." (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(B)(i), inserted "and" at end. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(B)(ii), substituted "Agency" for "Board" and struck out "and" at end. (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)
• Pub. L. 111–203, §362(3)(B)(iii), struck out cl. (v) which read as follows: "the Thrift Depositor Protection Oversight Board, in the case of the Resolution Trust Corporation." (Dodd-Frank Wall Street Reform and Consumer Protection Act) Law text · (g)

2006

• Pub. L. 109–351, §716(b)(1), substituted "any action on any application, notice, or other request by the credit union or institution-affiliated party," for "the granting of any application or other request by the credit union" in first sentence. (Financial Services Regulatory Relief Act of 2006) Law text · (b)
• Pub. L. 109–351, §726(14), struck out "and" after semicolon. (Financial Services Regulatory Relief Act of 2006) Law text · (e)
• Pub. L. 109–351, §726(15), substituted "subsection (e)(3)" for "subsection (e)(3)(B)". (Financial Services Regulatory Relief Act of 2006) Law text · (f)
• Pub. L. 109–351, §716(b)(2), substituted "any action on any application, notice, or request by such credit union or institution-affiliated party" for "the grant of any application or other request by such credit union". (Financial Services Regulatory Relief Act of 2006) Law text · (g)
• Pub. L. 109–351, §726(16), struck out "and subsection (1)" after "For purposes of this paragraph" in introductory provisions. (Financial Services Regulatory Relief Act of 2006) Law text · (g)
• Pub. L. 109–351, §708(b)(2), inserted heading. (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §708(b)(1)(A), substituted "any credit union" for "the credit union" in two places. (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §708(b)(1)(B), inserted "of which the subject of the order is, or most recently was, an institution-affiliated party" before period at end. (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §708(b)(1)(C), substituted "any credit union's" for "the credit union's" in cl. (i) and "any credit union" for "the credit union" wherever appearing. (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §708(b)(1)(D), substituted "upon the credit union of which the subject of the order is, or most recently was, an institution-affiliated party" for "upon such credit union". (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §708(b)(1)(E), added subpar. (E). (Financial Services Regulatory Relief Act of 2006) Law text · (i)
• Pub. L. 109–351, §716(b)(3), substituted "any action on any application, notice, or other request by the credit union or institution-affiliated party" for "the grant of any application or other request by such credit union". (Financial Services Regulatory Relief Act of 2006) Law text · (k)
• Pub. L. 109–351, §715(b), inserted "or order" after "notice" in two places. (Financial Services Regulatory Relief Act of 2006) Law text · (k)
• Pub. L. 109–351, §723(b), added par. (9). (Financial Services Regulatory Relief Act of 2006) Law text · (s)
• Pub. L. 109–351, §726(17), inserted "regulations" after "(as defined in". (Financial Services Regulatory Relief Act of 2006) Law text · (t)
• Pub. L. 109–351, §726(18), substituted "material effect" for "material affect". (Financial Services Regulatory Relief Act of 2006) Law text · (t)
• Pub. L. 109–351, §726(19), struck out "or" after semicolon at end. (Financial Services Regulatory Relief Act of 2006) Law text · (t)

2004

• Pub. L. 108–458 added subsec. (w). (Intelligence Reform and Terrorism Prevention Act of 2004) Law text · (w)

1998

• Pub. L. 105–219, §301(g)(2), inserted "or another (including, in the case of a State-chartered insured credit union, the State official having jurisdiction over the credit union)" after "appoint itself" in introductory provisions. (Credit Union Membership Access Act) Law text · (h)
• Pub. L. 105–219, §301(b)(1)(A), added subpars. (F) and (G). (Credit Union Membership Access Act) Law text · (h), (G)
• Pub. L. 105–219, §301(b)(1)(B)(i), substituted "Except as provided in subparagraph (C), in the case" for "In the case". (Credit Union Membership Access Act) Law text · (h)
• Pub. L. 105–219, §301(b)(1)(B)(ii), added subpar. (C). (Credit Union Membership Access Act) Law text · (h)
• Pub. L. 105–219, §301(g)(1)(A), inserted "or section 1790d of this title" after "this section" in three places. (Credit Union Membership Access Act) Law text · (k)
• Pub. L. 105–219, §301(g)(1)(B), inserted ", or any final order under section 1790d of this title" before semicolon at end. (Credit Union Membership Access Act) Law text · (k)

1994

• Pub. L. 103–325 substituted "section 5322 or 5324 of title 31" for "section 5322 of title 31". · (h), (i), (v)

1992

• Pub. L. 102–550, §1504(b)(1), amended par. (2) generally. Prior to amendment, par. (2) read as follows: "Whenever, in the opinion of the Board, any director, officer, or committee member of an insured credit union has committed any violation of the Depository Institution Management … · (g)
• Pub. L. 102–550, §1501(b), added subpar. (C) and redesignated former subpars. (C) and (D) as (D) and (E), respectively. · (h)
• Pub. L. 102–550, §1504(b)(2), amended par. (1) generally, subdividing existing provisions into subpars. (A) to (D), and, in subpar. (A), including violations under section 1956, 1957, or 1960 of title 18 or section 5322 of title 31 as reason for suspension of any violator from furth… · (i)
• Pub. L. 102–550, §1503(b), added subsec. (v). · (v)

1990

• Pub. L. 101–647, §2547(b)(2), which directed amendment of par. (1) by striking out after first sentence "Such hearing shall be private, unless the Board, in its discretion, after fully considering the views of the party afforded the hearing, determines that a public hearing is neces… · (j)
• Pub. L. 101–647, §2547(b)(1), amended subsec. (s) generally. Prior to amendment, subsec. (s) read as follows: · (s)
• Pub. L. 101–647, §2523(b), added subsec. (t). · (t)
• Pub. L. 101–647, §2532(c), added subsec. (u). · (u)

1989

• Pub. L. 101–73, §901(b)(2)(A), (B), substituted references to institution-affiliated parties for references to directors, officers, committee members, agents, or other persons participating in the conduct of the affairs of credit unions. Substitution by section 901(b)(2)(A)(ii) was … · (e)
• Pub. L. 101–73, §902(b)(1), added pars. (3) and (4). · (e), (4)
• Pub. L. 101–73, §902(b)(2)(B), substituted "significant" for "substantial", struck out "seriously" before "weaken the condition of" and before "prejudice the interests of", and inserted after first sentence "Such order may include any requirement authorized under subsection (e)(3)(B… · (f)
• Pub. L. 101–73, §901(b)(2)(B), (C), substituted references to institution-affiliated parties for references to directors, officers, committee members, employees, agents, or other persons participating in the conduct of the affairs of credit unions. · (f)
• Pub. L. 101–73, §901(b)(2)(B), substituted references to institution-affiliated parties for references to directors, officers, committee members, employees, agents, or other persons participating in the conduct of the affairs of credit unions. · (f)
• Pub. L. 101–73, §902(b)(2)(A), (C), added par. (3) and redesignated former par. (3) as (4). · (f), (4)
• Pub. L. 101–73, §903(b)(1), amended par. (1) generally. Prior to amendment, par. (1) read as follows: "Whenever, in the opinion of the Board, any director, officer, committee member, or employee of an insured credit union has committed any violation of law, rule, or regulation, or o… · (g)
• Pub. L. 101–73, §903(b)(2), redesignated par. (3) as (2) and struck out former par. (2) which read as follows: "Whenever, in the opinion of the Board, any director, officer, committee member, or employee of an insured credit union, by conduct or practice with respect to another insu… · (g)
• Pub. L. 101–73, §903(b)(2), added par. (3). Former par. (3) redesignated (2). · (g)
• Pub. L. 101–73, §903(b)(2), redesignated par. (5) as (4) and struck out former par. (4) which provided for temporary suspension from office or prohibition from further participation in credit union activities. · (g)
• Pub. L. 101–73, §903(b)(2), (3), added par. (5). Former par. (5) redesignated (4). · (g)
• Pub. L. 101–73, §903(b)(4), substituted "credit union under paragraph (3)" for "credit union under paragraph (4)" and "person under paragraph (1) or (2)" for "person under paragraph (1), (2), or (3)". · (g)
• Pub. L. 101–73, §904(b), amended par. (7) generally, revising and restating as subpars. (A) to (F) provisions of former subpars. (A) and (B). · (g)
• Pub. L. 101–73, §1217(b), inserted at end "Except as provided in this paragraph, no court may take any action, except at the request of the Board by regulation or order, to restrain or affect the exercise of powers or functions of the Board as conservator." · (h)
• Pub. L. 101–73, §906(b), struck out "authorized by a United States attorney" after "is charged in any information, indictment, or complaint", and substituted "or an agreement to enter a pre-trial diversion or other similar program" for "with respect to such crime" after "judgment of… · (i)
• Pub. L. 101–73, §901(b)(2)(D)(i)–(iv), (vi), substituted references to institution-affiliated parties for references to directors, committee members, or officers of insured credit unions, or other persons participating in the conduct of the affairs of credit unions, and substituted "whereupon such … · (i)
• Pub. L. 101–73, §901(b)(2)(D)(v), which directed the substitution of "party" for "director, officer or other person" could not be executed because "director, officer or other person" does not appear in par. (1). · (i)
• Pub. L. 101–73, §901(b)(2)(E)(i)–(iv), substituted references to institution-affiliated parties for references to directors, committee members, officers, or other persons. · (i)
• Pub. L. 101–73, §901(b)(2)(E)(v), which directed the substitution of "such party" for "said director, committee member, officer or other person" was executed by making the substitution for "said director, committee member, officer, or other person" after "whether the order removing" in third senten… · (i)
• Pub. L. 101–73, §920(b), substituted "Any party to any proceeding under paragraph (1)" for "Any party to the proceeding, or any person required by an order issued under this section to cease and desist from any of the practices or violations stated therein,". · (j)
• Pub. L. 101–73, §901(b)(2)(F), substituted "institution-affiliated party" for "director, officer, committee member, or other person". · (j)
• Pub. L. 101–73, §907(b), in amending par. (2) generally, designated existing provisions as cls. (i) to (iv), substituted provisions imposing a fine of $5,000 per day for violation of any law or regulation, a final or temporary order, any condition imposed in writing, or any written … · (k)
• Pub. L. 101–73, §905(b), added par. (3). · (k)
• Pub. L. 101–73, §908(b), amended subsec. (l) generally. Prior to amendment, subsec. (l) read as follows: "Any director, officer, or committee member, or former director, officer, or committee member, of an insured credit union or of a credit union any of the member accounts of which ar… · (l)
• Pub. L. 101–73, §901(b)(2)(G), substituted "institution-affiliated party" for "director, officer, committee member or other person participating in the conduct of its affairs". · (o)
• Pub. L. 101–73, §915(b), in first sentence, inserted "or in connection with any claim for insured deposits or any examination or investigation under section 1784(b) of this title" after "any proceeding under this section", ", in conducting the proceeding, examination, or investigation … · (p)
• Pub. L. 101–73, §901(a), added subsec. (r). · (r)
• Pub. L. 101–73, §913(b), added subsec. (s). · (s)

1987

• Pub. L. 100–86, §509(a), repealed Pub. L. 97–320, §141. See 1982 Amendment notes below.
• Pub. L. 100–86, §709(1), substituted "committee member, or employee" for "or committee member" in three places. · (g)
• Pub. L. 100–86, §709(2)–(4), substituted "committee member, or employee" for "or committee member" in two places, substituted "any agent or other person" for "any other person", and inserted "employee, agent," before "or other person". · (g)
• Pub. L. 100–86, §710, added par. (7). · (g)
• Pub. L. 100–86, §711, added subpars. (C) and (D). · (h), (D)
• Pub. L. 100–86, §712, substituted "30" for "ninety". · (h)
• Pub. L. 100–86, §713, added par. (8) and redesignated former par. (8) as (9). · (h), (9)

1986

• Pub. L. 99–570, §1359(d)(2), inserted reference to subsec. (q) of this section. · (k)
• Pub. L. 99–570, §1359(d)(1), added subsec. (q). · (q)

1984

• Pub. L. 98–369 inserted "(1)" after "subsection (a)", "maintain its deposit with and", and provisions relating to termination of insured status and the obtaining of comparable insurance coverage from another source. · (d)

1982

• Pub. L. 97–320, §132(b), substituted "subsection (j)" for "subsection (i)". · (b)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (b)
• Pub. L. 97–320, §427(c)(1), added par. (3); redesignated former pars. (3) to (5) as (4) to (6), respectively; inserted reference to par. (3) in two places and substituted reference to par. (6) for par. (5) in par. (4); and inserted reference to par. (3) and substituted refere… · (g)
• Pub. L. 97–320, §132(a), added subsec. (h) and redesignated former subsecs. (h) and (i) as (i) and (j), respectively. · (h), (i)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (h), (i)
• Pub. L. 97–320, §132(a), (c), (d), redesignated former subsec. (i) as (j), substituted "subsection (i)(3)" for "subsection (h)(3)" in first sentence and "subsection (j)" for "subsection (i)" in fourth sentence of par. (1), and substituted "subsection (i)(1)" for "subsection (h)(1)" aft… · (j)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (j)
• Pub. L. 97–320, §132(a)(1), redesignated former subsec. (j) as (k). Former subsec. (k) redesignated (l). · (k)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (k)
• Pub. L. 97–320, §424(a), (d)(9), (e), which directed insertion of proviso giving Board authority to compromise, etc., any civil money penalty imposed under this subsection and substitution of "may be assessed" for "shall be assessed" in subsec. (j)(2)(A), and substitution of… · (k), (D)
• Pub. L. 97–320, §132(a)(1), (e), redesignated former subsec. (k) as (l) and substituted "(i)" for "(h)" after "(g)(3), (g)(4), or". Former subsec. (l) redesignated (m). · (l)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (l)
• Pub. L. 97–320, §427(c)(2), which directed substitution of reference to subsec. (g)(5) for subsec. (g)(3) in subsec. (k), was executed to subsec. (l) to reflect the probable intent of Congress and the redesignation of subsec. (k) as (l) by section 132(a)(1) of Pub. L. 97–320. · (l)
• Pub. L. 97–320, §132(a)(1), (f), redesignated former subsec. (l) as (m) and substituted "subjection (j)" for "subsection (i)" after "paragraph (2) of" and "subsection (i)" for "subsection (h)" after "an order issued under". Former subsec. (m) redesignated (n). · (m)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (m)
• Pub. L. 97–320, §132(a)(1), redesignated former subsecs. (m) to (o) as (n) to (p), respectively. · (n), (o), (p)
• Pub. L. 97–320, §141(a)(8), which directed that, effective Oct. 13, 1986, the provisions of law amended by section 132 of Pub. L. 97–320 shall be amended to read as they would without such amendment, was repealed by Pub. L. 100–86, §509(a). See Effective and Termination Dates of 1982 Amendment note… · (n), (o), (p)

1978

• Pub. L. 95–630, §502(b), substituted "Board" for "Administrator" wherever appearing, and "it" and "its" for "he" and "his", respectively, where appropriate. · (a), (b), (c), (d)
• Pub. L. 95–630, §§107(a)(4), 502(b), substituted "Board" for "Administrator" wherever appearing, and in par. (1) extended coverage of provisions to include directors, officers, committee members, employees, agents, or other persons participating in the conduct of the affairs of any ins… · (e)
• Pub. L. 95–630, §§107(c)(4), 502(b), substituted "Board" for "Administrator" wherever appearing, inserted references to any director, officer, committee member, employee, agent, or other person participating in the conduct of the affairs of the credit union, and inserted in par. (1) "p… · (f)
• Pub. L. 95–630, §§107(d)(4), 502(b), substituted "Board" for "Administrator" wherever appearing, in pars. (1), (2) "its" for "his", in par. (3) "it" for "he", "or prohibit him" for "and/or prohibit him", "suspension or prohibition" for "suspension and/or prohibition", and "removal and … · (g)
• Pub. L. 95–630, §§111(d)(1), 502(b), among other changes, substituted "Board" for "Administrator" wherever appearing, in par. (1) substituted "Crime" for "felony" in two places and "subsection (g) of this section" for "paragraph (1) or (2) of subsection (g) of this section", inserted "… · (h)
• Pub. L. 95–630, §§111(d)(2), (3), 502(b), substituted "Board" for "Administrator" wherever appearing, in par. (1) substituted "its" for "his" and "it" for "he" and "him" and inserted "(other than the hearing provided for in subsection (h)(3) of this section)" after "provided for in thi… · (i)
• Pub. L. 95–630, §§107(e)(4), 502(b), designated existing provisions as par. (1), added par. (2), and substituted "Board" for "Administrator" wherever appearing and "its" for "his" in par. (1). · (j)
• Pub. L. 95–630, §502(b), substituted "Board" for "Administrator" wherever appearing. · (k), (l), (m), (n), (o)

1977

• Pub. L. 95–22, §307(a), struck out "and that such violation or practice or breach of fiduciary duty is one involving personal dishonesty on the part of such director, officer, or committee member" after "or breach of fiduciary duty". · (g)
• Pub. L. 95–22, §307(b), substituted "dishonesty or unfitness" for "dishonesty and unfitness" wherever appearing. · (g)

1974

• Pub. L. 93–383, §728(a), designated existing provisions as par. (1) and added par. (2). · (a)
• Pub. L. 93–383, §728(b), inserted "(1)" after "(a)". · (c)
• Pub. L. 93–383, §728(c), designated existing provisions as par. (1) and added pars. (2) and (3). · (d)