[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR725.7]



[Page 592]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 725_NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY

--Table of Contents

 

Sec. 725.7  Special share accounts in federally chartered agent members.



    (a) A federally chartered Agent member of the Facility may require 

its member natural person credit unions to establish and maintain 

special share accounts in the Agent member to reimburse it for the 

portion of the Agent's Facility stock subscription which is attributable 

to the paid-in and unimpaired capital and surplus of each such natural 

person credit union.

    (b) The amount which the Agent member requires each member natural 

person credit union to maintain in such special share accounts shall be 

based on a uniform percentage of the paid-in and unimpaired capital and 

surplus of such credit unions, and shall not exceed the amount of the 

Agent's stock subscription which is attributable to the capital and 

surplus of each such credit union. An Agent shall not permit a member to 

maintain in a special share account any amounts in excess of the 

required amount.

    (c) A natural person credit union that withdraws from membership in 

an Agent member or that becomes a Regular member of the Facility, shall 

be entitled to the return of all amounts in its special share account 

upon withdrawal from membership in the Agent or upon becoming a Regular 

member, as applicable.



[45 FR 47122, July 14, 1980]