24 CFR § 330.55 - Basis for removal from participation.
---
identifier: "/us/cfr/t24/s330.55"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 330.55 - Basis for removal from participation."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "330.55"
section_name: "Basis for removal from participation."
chapter_name: "GOVERNMENT NATIONAL MORTGAGE ASSOCIATION, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "330"
part_name: "GUARANTY OF MULTICLASS SECURITIES"
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. 1721(g) and 1723a(a); and 42 U.S.C. 3535(d)."
regulatory_source: "60 FR 42018, Aug. 14, 1995, unless otherwise noted."
cfr_part: "330"
---
# 330.55 Basis for removal from participation.
A participant may be removed from the Multiclass Securities program if the Association, in its discretion, determines that any of the following exists or has occurred:
(a) The participant, at any time, fails to meet any condition for eligibility;
(b) The participant fails to comply with any provision of the Multiclass Guide or this part;
(c) The participant is unable or fails to truthfully, correctly or fully submit such certifications as are required; and
(d) Such further reasons as the Association determines necessary to protect the safety and soundness of the Multiclass Securities program, as set out in the Multiclass Guide.