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NCUA RIN: 3133-AD73 Publication ID: Fall 2011 
Title: Golden Parachute and Indemnification Payments 
Abstract: NCUA adopted a final rule to prohibit, with some exceptions, a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party. The rule is intended to help safeguard the National Credit Union Share Insurance Fund (NCUSIF) by preventing the wrongful or improper disposition of FICU assets and to inhibit unwarranted rewards to IAPs who may have contributed to an FICU's troubled condition. NCUA also issued an interim final rule to correct an exception to the definition of golden parachute payment pertaining to plans offered under section 457 of the Internal Revenue Code. 
Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 741.224; 12 CFR 750 
Legal Authority: 12 USC 1757; 12 USC 1766(a); 12 USC 1781 to 1790; 12 USC 1786(t); 12 USC 1790d 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/05/2010  75 FR 47236 
NPRM Comment Period End  09/07/2010   
Final Rule  05/26/2011  76 FR 30510 
Interim Final Rule  06/24/2011  76 FR 36979 
Interim Final Rule Comment Period End  07/25/2011   
Final Action  12/00/2011   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: ncua.gov/Resources/RegulationsOpinionsLaws/ProposedRegulations.aspx   Public Comment URL: www.regulations.gov/search/Regs/home.html#home  
RIN Data Printed in the FR: No 
Agency Contact:
Pamela Yu
Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 518-6540
Fax:703 518-6569
Email: pyu@ncua.gov

 
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