[Federal Register Volume 73, Number 40 (Thursday, February 28, 2008)]
[Proposed Rules]
[Page 10697]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-3831]


 ========================================================================
 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 73, No. 40 / Thursday, February 28, 2008 / 
Proposed Rules  

[[Page 10697]]



NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Parts 708a and 708b


Mergers, Conversion From Credit Union Charter, and Account 
Insurance Termination; Extension of Comment Period

AGENCY: National Credit Union Administration (NCUA).

ACTION: Advanced notice of proposed rulemaking and request for comment 
(ANPR); notice of extension of comment period.

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SUMMARY: The NCUA Board recently issued an ANPR regarding mergers, 
conversions from credit union charter, and account insurance 
termination that provided a 60-day comment period, 73 FR 5461 (Jan. 30, 
2008). NCUA received several oral requests to extend the comment period 
and has decided to extend the comment period for an additional 30 days.

DATES: Comments must be received by April 30, 2008.

ADDRESSES: You may submit comments by any of the following methods 
(please send comments by one method only):
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     NCUA Web Site: http://www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/proposed_regs.html. Follow the 
instructions for submitting comments.
     E-mail: Address to [email protected]. Include ``[Your 
name] Comments on FCU Bylaws'' in the e-mail subject line.
     Fax: (703) 518-6319. Use the subject line described above 
for e-mail.
     Mail: Address to Mary Rupp, Secretary of the Board, 
National Credit Union Administration, 1775 Duke Street, Alexandria, 
Virginia 22314-3428.
     Hand Delivery/Courier: Same as mail address.
    Public inspection: All public comments are available on the 
agency's Web site at http://www.ncua.gov/RegulationsOpinionsLaws/comments as submitted, except as may not be possible for technical 
reasons. Public comments will not be edited to remove any identifying 
or contact information. Paper copies of comments may be inspected in 
NCUA's law library, at 1775 Duke Street, Alexandria, Virginia 22314, by 
appointment weekdays between 9 a.m. and 3 p.m. To make an appointment, 
call (703) 518-6546 or send an e-mail to [email protected].

FOR FURTHER INFORMATION CONTACT: Elizabeth Wirick, Staff Attorney, 
Office of General Counsel, National Credit Union Administration, 1775 
Duke Street, Alexandria, Virginia 22314-3428 or telephone: (703) 518-
6540.

SUPPLEMENTARY INFORMATION: At its January 2008 meeting, the NCUA Board 
issued an ANPR addressing several issues related to credit union 
mergers, conversion from a credit union charter, and account insurance 
termination, 73 FR 5461 (Jan. 30, 2008). The ANPR requested comment on 
whether NCUA should issue regulations to govern merger of a federally 
insured credit union (FICU) into, or a FICU's conversion to, a 
financial institution other than a mutual savings bank, and whether 
NCUA should amend its regulations on mergers, charter conversions, and 
changes in account insurance. These transactions present issues 
affecting member rights and ownership interests, and the ANPR 
specifically requested comment on how NCUA regulations should address 
four categories of these issues: Management's Duties, Member Right to 
Equity, Communications to Members, and Member Voting. NCUA received 
several oral requests to extend the comment period by 30 days. The 
Board believes a 30-day extension will facilitate submission of 
comments without causing undue delay to the rulemaking process. 
Accordingly, the comment period for the ANPR is extended until April 
30, 2008.

    By the National Credit Union Administration Board on February 
20, 2008.
Mary F. Rupp,
Secretary of the Board.
 [FR Doc. E8-3831 Filed 2-27-08; 8:45 am]
BILLING CODE 7535-01-P