UNITED STATES OF AMERICA
NATIONAL CREDIT UNION ADMINISTRATION NATIONAL CREDIT UNION ADMINISTRATION BOARD ______________________________ ORDER OF PROHIBITION WHEREAS, Janet Tripp, a former manager of the Utah Associations Credit Union, which was subsequently named Intermountain Credit Union, (“Credit Union”), is an “institution-affiliated party” participating in the affairs of said credit union; and WHEREAS, Janet Tripp has executed a Stipulation and Consent to Issuance of an Order of Prohibition, which is accepted and approved by the National Credit Union Administration, acting through counsel; and WHEREAS, Janet Tripp has stipulated and consented to the issuance of this Order of Prohibition pursuant to Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g) and Part 747 of the National Credit Union Administration Rules and Regulations, 12 C.F.R. §747. NOW, THEREFORE, IT IS ORDERED THAT:
NATIONAL CREDIT UNION ADMINISTRATION BOARDBY: _______/s/_________________________________ DATE: 03/08/01 UNITED STATES OF AMERICA NATIONAL CREDIT UNION ADMINISTRATION NATIONAL CREDIT UNION ADMINISTRATION BOARD ______________________________ STIPULATION AND CONSENT TO ISSUANCE The National Credit Union Administration Board (“NCUA BOARD”), by and through its undersigned counsel, and Janet Tripp, a former manager of the Utah Associations Credit Union, which was subsequently named Intermountain Credit Union, Salt Lake City, Utah hereby stipulate and agree as follows: 1. Consideration The National Credit Union Administration (“NCUA”) is of the opinion
that grounds exist to initiate an administrative prohibition against
Janet Tripp pursuant to Section 206 of the Federal Credit Union Act,
12 U.S.C. §1786. Janet Tripp, without admitting or denying that said
grounds exist (except those set forth as to Jurisdiction in paragraph
2), desires to avoid the time, cost and expense of administrative litigation.
Accordingly, Janet Tripp consents to the issuance by the NCUA Board
of an Order of Prohibition (“Order”) and hereby stipulates and agrees
to the following terms in consideration of the settlement, compromise
and resolution of all potential administrative claims and charges that
have been or might be asserted by the NCUA Board against Janet Tripp
arising out of her position as Intermountain Credit Union’s former manager. 2. Jurisdiction a. Janet Tripp is an “institution-affiliated party” within the meaning of Section 206(r) of the Federal Credit Union Act, 12 U.S.C. §1786(r). b. Pursuant to the authority vested in the NCUA Board under Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g), and Part 747 of the National Credit Union Administration Rules and Regulations, it is the appropriate Federal agency to maintain enforcement proceedings against an “institution-affiliated party”. Therefore, Janet Tripp is subject to the authority of the National Credit Union Administration to initiate and maintain prohibition proceedings against her. 3. Consent Janet Tripp consents to the issuance by the NCUA Board of the accompanying Order of Prohibition. She further agrees to comply with its terms upon issuance and stipulates that the Order complies with all requirements of the Federal Credit Union Act. 4. Waiver Janet Tripp waives her rights to the administrative hearing provided for in Section 206(g)(4) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(4). She further waives her right to seek judicial review of the Order or to otherwise challenge the validity of the Order. 5. Other Actions Pursuant to this Stipulation, the Order settles and resolves any NCUA
Board claims, known and unknown, against Janet Tripp as provided by
Paragraph 1 of this Stipulation. The Stipulation, however, does not
release, discharge, compromise, settle, resolve or in any way effect
any actions, claims, charges against, or liabilities that arise and
that may be or have been brought by Intermountain Credit Union, or any
federal or state government agency or entity other than the NCUA Board. 6. Finality The Order of Prohibition is issued pursuant to Section 206(g) of the Federal Credit Union Act, 12 U.S.C. §1786(g). Upon its issuance by the NCUA Board, it shall be a final Order, immediately effective and fully enforceable by the National Credit Union Administration. WHEREFORE, in consideration of the foregoing, the undersigned counsel on behalf of the National Credit Union Administration, and Janet Tripp execute this Stipulation and Consent to Issuance of an Order of Prohibition. By: ____________/s/__________________ ______3/6/01_____ ____________/s/__________________
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