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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 3023 Appeal procedures applicable upon denial or restriction of application for assistance us united_states_code code_section 12 BANKS AND BANKING 31 NATIONAL CONSUMER COOPERATIVE BANK 3023 12 U.S.C. § 3023 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s3023 data/legal/raw/us/code/title-12/usc12.xml bdb57b2128073b5360eb87de5800efb5502b6e2124053ed312d8d4e0eb58caf3 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 60f2ce926edfde31dec649fba69d827f43e2bbdee3cec398dc37e3155c2d3362 2026-07-04 official
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12 U.S.C. § 3023 - Appeal procedures applicable upon denial or restriction of application for assistance

Text

(a) If an application for assistance under this chapter is denied in whole or in part, the applicant shall be informed within thirty days in writing of the reasons for the denial or restriction.

(b) Any applicant for assistance under this chapter receiving notice of denial or restriction of the application may, within thirty days of receipt of such notice, request the Board of Directors to review the application and notice of denial or restriction for a determination of whether the action of the Bank was correctly within the terms of this chapter, the regulations, and the policy of the Board. The Board shall consider the request for review at its next meeting and promptly inform the applicant of its determination and the reasons therefor.

(Pub. L. 95351, title I, § 113, Aug. 20, 1978, 92 Stat. 510.)