[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: 12CFR793.10]



[Page 722-723]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 793_TORT CLAIMS AGAINST THE GOVERNMENT--Table of Contents

 

                          Subpart B_Procedures

 

Sec. 793.10  Limitation on National Credit Union Administration's 

authority.



    (a) An award, compromise or settlement of a claim hereunder in 

excess of $25,000 shall be effected only with the prior written approval 

of the Attorney General or his designee. For purposes of this paragraph, 

a principal claim and any derivative or subrogated claim shall be 

treated as a single claim.

    (b) An administrative claim may be adjusted, determined, compromised 

or settled hereunder only after consultation with the Department of 

Justice when, in the opinion of the National Credit Union 

Administration:

    (1) A new precedent or a new point of law is involved; or

    (2) A question of policy is or may be involved; or

    (3) The United States is or may be entitled to indemnity or 

contribution from a third party and the National Credit Union 

Administration is unable to adjust the third party claim; or

    (4) The compromise of a particular claim, as a practical matter, 

will or may control the disposition of a related claim in which the 

amount to be paid may exceed $25,000.

    (c) An administrative claim may be adjusted, determined, compromised 

or settled only after consultation with the Department of Justice when 

it is learned that the United States or any



[[Page 723]]



employee, agent or cost-plus contractor of the United States is involved 

in litigation based on a claim arising out of the same incident or 

transaction.