[Federal Register Volume 63, Number 24 (Thursday, February 5, 1998)]
[Rules and Regulations]
[Page 5859]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2770]



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 Rules and Regulations
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  Federal Register / Vol. 63, No. 24 / Thursday, February 5, 1998 / 
Rules and Regulations  

[[Page 5859]]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 791


Rules of NCUA Board Procedure; Promulgation of NCUA Rules and 
Regulations; Public Observation of NCUA Board Meetings

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

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SUMMARY: The NCUA Board amends its rules to revise and clarify Board 
procedures relating to the scheduling and subject matter of Board 
meetings. This amendment more clearly describes the content of the 
written submissions that are required when Board members want to call a 
special meeting or when a Board member wants to place items on a 
regular meeting agenda.

DATES: Effective on February 5, 1998.

ADDRESSES: National Credit Union Administration, 1775 Duke Street, 
Alexandria, Virginia 22314-3428.

FOR FURTHER INFORMATION CONTACT: Robert M. Fenner, General Counsel, 
Office of the General Counsel, at the above address or telephone (703) 
518-6540. E-mail questions may be sent to [email protected].

SUPPLEMENTARY INFORMATION: Part 791 of NCUA Rules and Regulations, 12 
CFR Part 791, governs the manner in which the Board conducts NCUA 
business, including the scheduling and subject matter of Board 
meetings. These amendments clarify the NCUA Board's intention when it 
amended Secs. 791.5(a)(2) and 791.6(a). 62 FR 64266, December 5, 1997.
    Section 791.5(a)(2) is amended to specify that a request for a 
special meeting from two Board members must be made by submitting an 
NCUA B-1 form and Board Action Memorandum stating the specific issue(s) 
or action(s) to be considered by the Board.
    A parallel amendment is being made to Sec. 791.6(a). The NCUA B-1 
form and the Board Action Memorandum that a Board member uses to submit 
an item for the agenda of the next regularly scheduled meeting must 
state the specific issue(s) or action(s) to be considered.

Immediate Effective Date

    Because these amendments concern the rules of NCUA Board procedure, 
prior notice and comment are not required by 5 U.S.C. 553. These 
amendments are effective February 5, 1998.

Regulatory Procedures

Regulatory Flexibility Act

    NCUA certifies that these amendments to part 791 will not have a 
significant impact on a substantial number of small credit unions. 
Accordingly, a regulatory flexibility analysis is not required. The 
rule affects internal NCUA Board operations only. Thus, it will not 
result in any additional burden for regulated institutions.

Paperwork Reduction Act

    The amendments to the rule do not contain any collection of 
information requirements pursuant to the Paperwork Reduction Act of 
1995 and regulations of the Office of Management and Budget.

Executive Order 12612

    Part 791 only applies to NCUA and the NCUA Board. Accordingly, NCUA 
has determined that the rule will not have a substantial impact on the 
states or state interests. Further, the rule will not preempt 
provisions of state law or regulations.

List of Subjects in 12 CFR Part 791

    Administrative practice and procedure, Sunshine Act.

    By the National Credit Union Administration Board on January 22, 
1998.
Becky Baker,
Secretary to the Board.

    Accordingly, NCUA amends 12 CFR part 791 as follows:

PART 791---RULES OF NCUA BOARD PROCEDURE; PROMULGATION OF NCUA 
RULES AND REGULATIONS; PUBLIC OBSERVATION OF NCUA BOARD MEETINGS

    1. The authority citation for part 791 continues to read as 
follows:

    Authority: 12 U.S.C. 1766, 1789 and 5 U.S.C. 552b.

    2. Section 791.5 is amended by revising paragraph (a)(2) to read as 
follows:


Sec. 791.5  Scheduling of board meetings.

    (a) * * *
    (2) Special meetings. The Chairman shall call special meetings 
either on the Chairman's own initiative or within fourteen days of a 
request from two Board members that is accompanied by an NCUA B-1 form 
and a Board Action Memorandum that states the specific issue(s) or 
action(s) to be considered by the Board.
* * * * *
    3. Section 791.6 is amended by revising the last sentence in 
paragraph (a) to read as follows:


Sec. 791.6  Subject matter of a meeting.

    (a) Agenda. * * * Items shall be placed on the agenda by 
determination of the Chairman or, at the request of any Board Member, 
an item will be placed on the agenda of the next regularly scheduled 
meeting provided that the request is submitted at least ten days in 
advance of the next regularly scheduled meeting and is accompanied by 
an NCUA B-1 form and a Board Action Memorandum that states the specific 
issue(s) or action(s) to be considered by the Board.
* * * * *
[FR Doc. 98-2770 Filed 2-4-98; 8:45 am]
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