12 CFR § 747.406 - Cancellation of charter.

---
identifier: "/us/cfr/t12/s747.406"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 747.406 - Cancellation of charter."
title_number: 12
title_name: "Banks and Banking"
section_number: "747.406"
section_name: "Cancellation of charter."
chapter_name: "NATIONAL CREDIT UNION ADMINISTRATION"
subchapter_number: "A"
subchapter_name: "REGULATIONS AFFECTING CREDIT UNIONS"
part_number: "747"
part_name: "ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787, 1790a, 1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L. 104-134; Pub. L. 109-351; Pub. L. 114-74."
regulatory_source: "56 FR 37767, Aug. 8, 1991, unless otherwise noted."
cfr_part: "747"
---


# 747.406 Cancellation of charter.

Upon the completion of the liquidation and certification by the agent for the liquidating agent that the distribution of the assets of the Federal credit union has been completed, the NCUA Board shall cancel the charter of the Federal credit union concerned.