Technical Amendments, 30476-30478 [E8-11736]
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30476
Federal Register / Vol. 73, No. 103 / Wednesday, May 28, 2008 / Rules and Regulations
under paragraph (a)(5) of this section
that require consideration of all relevant
facts and circumstances, which include
the extent to which:
(i) The operations share resources
such as management, employees,
facilities, and equipment;
(ii) The operations are conducted in
coordination with or reliance upon each
other; and
(iii) The eligible borrower and legal
entity are dependent upon each other
for economic success.
(4) Portfolio restrictions necessary to
comply with paragraph (b) of this
section and any board-defined limits on
financing provided under this section;
and
(5) Reporting requirements necessary
to comply with paragraph (c) of this
section and any board-defined reporting
on financing provided under this
section.
Dated: May 20, 2008.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E8–11742 Filed 5–27–08; 8:45 am]
BILLING CODE 6705–01–P
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Parts 700, 704, 705, 707, 708b,
711, 713, 716, 723, 760, and 792
Technical Amendments
National Credit Union
Administration (NCUA).
ACTION: Final rule.
AGENCY:
NCUA is amending a number
of its regulations by making minor
technical corrections and grammatical
changes. The amendments delete
duplicate words, add proper
punctuations, and make other
grammatically necessary corrections.
The amendments are intended to
provide helpful changes to NCUA’s
regulations.
DATES: This rule is effective May 28,
2008.
FOR FURTHER INFORMATION CONTACT:
Justin M. Anderson, Staff Attorney,
Office of General Counsel, National
Credit Union Administration, 1775
Duke Street, Alexandria, Virginia
22314–3428 or telephone: (703) 518–
6540.
SUPPLEMENTARY INFORMATION:
mstockstill on PROD1PC66 with RULES
SUMMARY:
A. Background
In 2007, NCUA internally reviewed its
regulations as part of a publication
process. NCUA used this opportunity to
update and clarify existing regulations.
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17:40 May 27, 2008
Jkt 214001
The 2007 review revealed that minor
grammatical revisions to certain
regulations would be helpful.
B. Regulatory Changes
This rule provides minor grammatical
changes and will not cause any
regulatory changes.
C. Regulatory Procedures
Final Rule Under the Administrative
Procedure Act
Generally, the Administrative
Procedure Act (APA) requires a federal
agency to provide the public with notice
and the opportunity to comment on
agency rulemakings. The amendments
in this rule are not substantive but
technical in that they make minor
corrections, merely provide clarification
or alert users of the regulations to other
legal requirements or limitations. The
APA permits an agency to forego the
notice and comment period under
certain circumstances, such as when a
rulemaking is technical and not
substantive. NCUA finds good cause
that notice and public comment are
unnecessary under Section 553(b)(3)(B)
of the APA. 5 U.S.C. 553(b)(3)(B). NCUA
also finds good cause to dispense with
the 30-day delayed effective date
requirement under Section 553(d)(3) of
the APA. 5 U.S.C. 553(d)(3). The rule
will, therefore, be effective immediately
upon publication.
Regulatory Flexibility Act
The Regulatory Flexibility Act
requires NCUA to prepare an analysis to
describe any significant economic
impact a rule may have on a substantial
number of small entities (those credit
unions under ten million dollars in
assets). This rule provides minor,
technical changes to certain sections of
NCUA’s regulations. This rule will not
have a significant economic impact on
a substantial number of small credit
unions, and, therefore, a regulatory
flexibility analysis is not required.
Paperwork Reduction Act
NCUA has determined that this rule
will not increase paperwork
requirements under the Paperwork
Reduction Act of 1995 and regulations
of the Office of Management and
Budget.
Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their actions on
state and local interests. In adherence to
fundamental federalism principles,
NCUA, an independent regulatory
agency as defined in 44 U.S.C. 3502(5),
voluntarily complies with the executive
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order. This rule will not have
substantial direct effects on the states,
on the relationship between the national
government and the states, or on the
distribution of power and
responsibilities among the various
levels of government. NCUA has
determined that this rule does not
constitute a policy that has federalism
implications for purposes of the
executive order.
The Treasury and General Government
Appropriations Act, 1999—Assessment
of Federal Regulations and Policies on
Families
The NCUA has determined that this
rule will not affect family well-being
within the meaning of section 654 of the
Treasury and General Government
Appropriations Act, 1999, Public Law
105–277, 112 Stat. 2681 (1998).
Small Business Regulatory Enforcement
Fairness Act
The Small Business Regulatory
Enforcement Fairness Act of 1996 (Pub.
L. 104–121) (SBREFA) provides
generally for congressional review of
agency rules. A reporting requirement is
triggered in instances where NCUA
issues a final rule as defined by Section
551 of the APA. 5 U.S.C. 551. The Office
of Management and Budget has
determined that this rule is not a major
rule for purposes of SBREFA. As
required by SBREFA, NCUA will file the
appropriate reports with Congress and
the Government Accountability Office
so this rule may be reviewed.
List of Subjects
12 CFR Part 700
Credit unions.
12 CFR Part 704
Credit unions, Surety bonds.
12 CFR Part 705
Community development, Credit
unions, Loan programs—housing and
community development.
12 CFR Part 707
Advertising, Consumer protection,
Credit unions, Reporting and
recordkeeping requirements, Truth in
savings.
12 CFR Part 708b
Credit unions, Mergers of credit
unions, Reporting and recordkeeping
requirements.
12 CFR Part 711
Credit unions.
12 CFR Part 713
Bonds, Credit unions, Insurance.
E:\FR\FM\28MYR1.SGM
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Federal Register / Vol. 73, No. 103 / Wednesday, May 28, 2008 / Rules and Regulations
Bank deposit insurance, Consumer
protection, Credit unions, Privacy.
(1) * * * A nonfederally insured
credit union must include the following:
*
*
*
*
*
12 CFR Part 723
PART 707—TRUTH IN SAVINGS
Credit unions, Loan programs—
business, Reporting and recordkeeping
requirements.
I
12 CFR Part 716
30477
For the reasons discussed above,
NCUA is amending 12 CFR parts 700,
704, 705, 707, 708b, 710, 711, 713, 716,
723, 760, and 792 as follows:
PART 708b—MERGERS OF
FEDERALLY-INSURED CREDIT
UNIONS; VOLUNTARY TERMINATION
OR CONVERSION OF INSURED
STATUS
PART 700—DEFINITIONS
I
9. The authority citation for part 708b
continues to read as follows:
A. Paragraph (c) is amended by
removing the word ‘‘accounts’’ and
adding in its place the word ‘‘account’’
after the words ‘‘if I use different’’ in the
second full paragraph beginning with ‘‘I
Understand if’’.
I B. Paragraph (d)(5) is amended by
removing the word ‘‘and’’ and adding in
its place the word ‘‘an’’ before the words
‘‘entity independent’’ in the first full
paragraph beginning with ‘‘The (insert
name)’’.
I C. Paragraph (d)(5) is further amended
by removing the word ‘‘inset’’ and
adding in its place the word ‘‘insert’’
before the words ‘‘in favor of’’ in the
eighth paragraph beginning with
‘‘(insert ‘‘20% or more’’)’’.
I 14. Section 708b.303 is amended as
follows:
I A. Paragraph (b) is amended by
revising the first sentence in the second
full paragraph to read as set forth below.
I B. Paragraph (c)(5) is amended by
removing the word ‘‘and’’ and adding in
its place the word ‘‘an’’ before the words
‘‘entity independent’’ in the first
sentence.
1. The authority citation for part 700
continues to read as follows:
Authority: 12 U.S.C. 1752(7), 1766, 1785,
1786, 1789.
§ 708b.303 Conversion of insurance
through merger.
§ 708b.105
*
12 CFR Part 760
7. The authority citation for part 707
continues to read as follows:
Authority: 12 U.S.C. 4311.
Credit unions, Flood insurance,
Mortgages.
8. Section 707.8 is amended by
revising paragraph (c)(5) to read as
follows:
12 CFR Part 792
§ 707.8
Confidential business information,
Freedom of information, Government
employees, Privacy.
*
I
By the National Credit Union
Administration Board on May 20, 2008.
Mary Rupp,
Secretary of the Board.
I
I
Authority: 12 U.S.C. 1752, 1757(6), 1766.
§ 700.2
[Amended]
[Amended]
10. Section 708b.105(b) is amended by
removing the word ‘‘Part’’ and adding in
its place ‘‘part’’ in the first sentence.
I
2. Section 700.2 is amended by
removing the words ‘‘means a State’’
and adding in their place the words
‘‘means a state’’, and by removing the
word ‘‘Territories’’ and adding in its
place the word ‘‘territories’’.
I
§ 708b.203
[Amended]
11. Section 708b.203(e)(1) is amended
by removing the duplicate word ‘‘it’’
appearing after the words ‘‘credit union
that’’.
I
PART 704—CORPORATE CREDIT
UNIONS
§ 708b.301
3. The authority citation for part 704
continues to read as follows:
I
[Amended]
6. Section 705.5(b)(1) introductory
text is amended by revising the last
sentence to read as follows:
12. Section 708b.301 is amended as
follows:
I A. Paragraph (c) is amended by adding
a period after the parenthetical ‘‘(Insert
name of independent entity and
address)’’ in the first full paragraph
beginning with ‘‘The credit union
must’’.
I B. Paragraph (c) is further amended by
removing the word ‘‘accounts’’ and
adding in its place the word ‘‘account’’
after the words ‘‘if I use different’’ in the
second full paragraph beginning with ‘‘I
understand if’’.
I C. Paragraph (d)(5) is amended by
removing the word ‘‘inset’’ and adding
in its place the word ‘‘insert’’ in the
parenthetical following the words ‘‘a
majority voted’’ in the eighth paragraph
beginning with ‘‘(insert ‘‘20% or
more’’)’’.
§ 705.5
§ 708b.302
I
Authority: 12 U.S.C. 1766(a), 1781, 1789.
§ 704.8
[Amended]
4. Section 704.8(a)(4) is amended by
removing the word ‘‘and’’ after the
phrase ‘‘of this section;’’.
I
PART 705—COMMUNITY
DEVELOPMENT REVOLVING LOAN
PROGRAM FOR CREDIT UNIONS
5. The authority citation for part 705
continues to read as follows:
I
Authority: 12 U.S.C. 1772C–1; 42 U.S.C.
9822 and 9822 note.
I
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Advertising.
*
*
*
*
(c) * * *
(5) Effect of fees. A statement that fees
could reduce the earnings on the
account.
*
*
*
*
*
*
Application for participation.
*
*
(b) * * *
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*
*
17:40 May 27, 2008
[Amended]
13. Section 708b.302 is amended as
follows:
I
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I
*
*
*
*
(b) * * *
I understand if the merger or
conversion of the (insert name of
merging credit union) into the (insert
name of continuing credit union) is
approved, the National Credit Union
Administration share (deposit)
insurance I now have, up to $100,000,
or possibly more if I use different
account structures, will terminate upon
the effective date of the conversion.
* * *
*
*
*
*
*
PART 711—MANAGEMENT OFFICIAL
INTERLOCKS
16. The authority citation for part 711
continues to read as follows:
I
Authority: 12 U.S.C. 1757 and 3201–3208.
§ 711.2
[Amended]
17. Section 711.2(j) is amended by
removing the italicized phrase ‘‘Lowand moderate-income’’ and adding in
its place the italicized phrase ‘‘Low and
moderate-income’’.
I
PART 713—FIDELITY BOND AND
INSURANCE COVERAGE FOR
FEDERAL CREDIT UNIONS
18. The authority citation for part 713
continues to read as follows:
I
Authority: 12 U.S.C. 1761A, 1761B,
1766(a), 1766(h), 1789(a)(11).
E:\FR\FM\28MYR1.SGM
28MYR1
30478
§ 713.4
Federal Register / Vol. 73, No. 103 / Wednesday, May 28, 2008 / Rules and Regulations
[Amended]
19. Section 713.4(a) is amended by
removing the words ‘‘Web site’’ and
adding in its place the word ‘‘website’’.
I
PART 716—PRIVACY OF CONSUMER
FINANCIAL INFORMATION
20. The authority citation for part 716
continues to read as follows:
I
Authority: 15 U.S.C. 6801 et seq., 12 U.S.C.
1751 et seq.
§ 716.3
[Amended]
21. Section 716.3 is amended as
follows:
I A. Paragraph (b)(2)(iii) is amended by
removing the italicized words ‘‘web
sites’’ and adding in their place the
italicized word ‘‘websites’’ in the
paragraph heading, removing the words
‘‘web site’’ and adding in their place the
word ‘‘website’’ in the first sentence,
and removing the word ‘‘form’’ and
adding in its place with the word
‘‘from’’ after the words ‘‘not distract
attention’’ in the first sentence.
I B. Paragraph (e)(2)(iii) is amended by
removing the parentheses from the
sentence that begins ‘‘(The individual’’
and ends with ‘‘institutions involved).’’
I
PART 723—MEMBER BUSINESS
LOANS
PART 792—REQUESTS FOR
INFORMATION UNDER THE FREEDOM
OF INFORMATION ACT AND PRIVACY
ACT, AND BY SUBPEONA; SECURITY
PROCEEDURES FOR CLASSIFIED
INFORMATION
26. The authority citation for part 792
continues to read as follows:
I
Authority: 5 U.S.C. 301, 552, 552A, 552B;
12 U.S.C. 1752a(d), 1766, 1789, 1795f; E.O.
12600, 52 FR 23781, 3 CFR, 1987 Comp., p.
235; E.O. 12958, 60 FR 19824, 3 CFR, 1995
Comp., p. 333.
§ 792.10
[Amended]
27. Section 792.10(b) is amended by
removing the words ‘‘which meets’’ and
adding in their place the words ‘‘that
meet’’ in the third sentence.
I
§ 792.16
[Amended]
28. Section 792.16(a) is amended by
adding a comma after the words
‘‘extends the time’’ and removing the
comma after the words ‘‘with written
notice’’ in the second sentence.
I
§ 792.28
[Amended]
29. Section 792.28 is amended by
moving the period outside the
parenthetical ‘‘(in case of partial
denials)’’ in the second sentence.
I
§ 792.50
22. The authority citation for part 723
continues to read as follows:
I
[Amended]
30. Section 792.50(a) is amended by
removing the parenthetical phrase from
the first sentence.
I
Authority: 12 U.S.C. 1756, 1757, 1757A,
1766, 1785, 1789.
§ 792.51
§ 723.21
I
[Amended]
23. Section 723.21 is amended as
follows:
I A. In the definition of Construction or
development loan, Example 4 is
amended by removing the word
‘‘incoming’’ in the fourth sentence and
adding in its place the word ‘‘income’’.
I B. The definition of Net worth is
amended by removing the phrase ‘‘low
income-designated’’ and adding in its
place the phrase ‘‘low-income
designated’’ in the fourth sentence.
I
PART 760—LOANS IN AREAS HAVING
SPECIAL FLOOD HAZARDS
[Amended]
31. Section 792.51(b) is amended by
removing the words ‘‘Personnel Office’’
wherever they appear in the fourth
sentence and adding in their place the
words ‘‘Office of Human Resources’’.
[FR Doc. E8–11736 Filed 5–27–08; 8:45 am]
BILLING CODE 7535–01–P
DEPARTMENT OF DEFENSE
Office of the Secretary
[DOD–2006–HA–0194; RIN 0720–AB07]
32 CFR Part 199
I
TRICARE; Certain Survivors of
Deceased Active Duty Members; and
Adoption Intermediaries
Authority: 12 U.S.C. 1757, 1789; 42 U.S.C.
4012a, 4104a, 4104b, 4106, and 4128.
AGENCY:
§ 760.7
SUMMARY: This rule confirms as final a
January 2007 interim final rule which
implements two provisions of the
National Defense Authorization Act for
Fiscal Year 2006 (NDAA FY06). First,
Section 715 of the NDAA FY06 extends
mstockstill on PROD1PC66 with RULES
24. The authority citation for part 760
continues to read as follows:
[Amended]
25. Section 760.7 is amended by
removing the comma before the words
‘‘at any time during’’ and adding a
comma after the words ‘‘not covered by
flood insurance’’ in the first sentence.
I
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17:40 May 27, 2008
Jkt 214001
ACTION:
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Office of the Secretary, DoD.
Final rule.
Frm 00024
Fmt 4700
Sfmt 4700
the time frame certain dependents of
active duty service members (ADSM)
who die while on active duty for more
than 30 days shall receive TRICARE
medical benefits at active duty
dependent payment rates. Second,
Section 592 of the NDAA FY06 modifies
the requirement for those intermediaries
who provide adoption placements.
Additionally, this final rule makes an
administrative clarification to the
following two eligibility provisions:
those placed in the legal custody of a
member or former member; and those
placed in the home of a member or
former member in anticipation of
adoption. This clarification makes a
distinction between the two groups and
specifies that for placement into legal
custody by court order, the court order
must be for a period of 12 consecutive
months.
DATES: Effective Date: This rule is
effective June 27, 2008.
FOR FURTHER INFORMATION CONTACT: Ms.
Ann N. Fazzini, (303) 676–3803 for
questions regarding Section 715 as it
relates to the TRICARE Basic Program;
and also questions regarding Section
592. Mr. Michael Kottyan, (303) 676–
3520 for questions regarding Section
715 as it relates to the Extended Health
Care Option (ECHO). Mr. John
Leininger, (303) 676–3613, for questions
regarding TRICARE Prime Remote.
Questions regarding payment of specific
claims should be addressed to the
appropriate TRICARE contractor.
SUPPLEMENTARY INFORMATION:
Background
I. In the Federal Register of January
19, 2007 (72 FR 2444), the Department
of Defense published for public
comment an interim final rule
regarding: (1) Payment rates for
dependents of deceased active duty
service members; (2) Modification of
requirement for certain intermediaries
under certain authorities relating to
adoptions; and, (3) Administrative
change—court order/adoption
placement. An overview of these three
provision follows.
II. Payment Rates for Dependents of
Deceased Active Duty Service Members.
Dependents of active-duty members
who died while on active duty have
been always eligible for TRICARE;
however, their payment rates/costsharing provisions have changed over
time. Section 715 of the NDAA FY06
modified the cost-sharing provision for
certain dependents of deceased active
duty members. The reader is referred to
the interim final rule published on
January 19, 2007 (72 FR 2444), for
E:\FR\FM\28MYR1.SGM
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]]>Agencies
[Federal Register Volume 73, Number 103 (Wednesday, May 28, 2008)]
[Rules and Regulations]
[Pages 30476-30478]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-11736]
=======================================================================
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
12 CFR Parts 700, 704, 705, 707, 708b, 711, 713, 716, 723, 760, and
792
Technical Amendments
AGENCY: National Credit Union Administration (NCUA).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: NCUA is amending a number of its regulations by making minor
technical corrections and grammatical changes. The amendments delete
duplicate words, add proper punctuations, and make other grammatically
necessary corrections. The amendments are intended to provide helpful
changes to NCUA's regulations.
DATES: This rule is effective May 28, 2008.
FOR FURTHER INFORMATION CONTACT: Justin M. Anderson, Staff Attorney,
Office of General Counsel, National Credit Union Administration, 1775
Duke Street, Alexandria, Virginia 22314-3428 or telephone: (703) 518-
6540.
SUPPLEMENTARY INFORMATION:
A. Background
In 2007, NCUA internally reviewed its regulations as part of a
publication process. NCUA used this opportunity to update and clarify
existing regulations. The 2007 review revealed that minor grammatical
revisions to certain regulations would be helpful.
B. Regulatory Changes
This rule provides minor grammatical changes and will not cause any
regulatory changes.
C. Regulatory Procedures
Final Rule Under the Administrative Procedure Act
Generally, the Administrative Procedure Act (APA) requires a
federal agency to provide the public with notice and the opportunity to
comment on agency rulemakings. The amendments in this rule are not
substantive but technical in that they make minor corrections, merely
provide clarification or alert users of the regulations to other legal
requirements or limitations. The APA permits an agency to forego the
notice and comment period under certain circumstances, such as when a
rulemaking is technical and not substantive. NCUA finds good cause that
notice and public comment are unnecessary under Section 553(b)(3)(B) of
the APA. 5 U.S.C. 553(b)(3)(B). NCUA also finds good cause to dispense
with the 30-day delayed effective date requirement under Section
553(d)(3) of the APA. 5 U.S.C. 553(d)(3). The rule will, therefore, be
effective immediately upon publication.
Regulatory Flexibility Act
The Regulatory Flexibility Act requires NCUA to prepare an analysis
to describe any significant economic impact a rule may have on a
substantial number of small entities (those credit unions under ten
million dollars in assets). This rule provides minor, technical changes
to certain sections of NCUA's regulations. This rule will not have a
significant economic impact on a substantial number of small credit
unions, and, therefore, a regulatory flexibility analysis is not
required.
Paperwork Reduction Act
NCUA has determined that this rule will not increase paperwork
requirements under the Paperwork Reduction Act of 1995 and regulations
of the Office of Management and Budget.
Executive Order 13132
Executive Order 13132 encourages independent regulatory agencies to
consider the impact of their actions on state and local interests. In
adherence to fundamental federalism principles, NCUA, an independent
regulatory agency as defined in 44 U.S.C. 3502(5), voluntarily complies
with the executive order. This rule will not have substantial direct
effects on the states, on the relationship between the national
government and the states, or on the distribution of power and
responsibilities among the various levels of government. NCUA has
determined that this rule does not constitute a policy that has
federalism implications for purposes of the executive order.
The Treasury and General Government Appropriations Act, 1999--
Assessment of Federal Regulations and Policies on Families
The NCUA has determined that this rule will not affect family well-
being within the meaning of section 654 of the Treasury and General
Government Appropriations Act, 1999, Public Law 105-277, 112 Stat. 2681
(1998).
Small Business Regulatory Enforcement Fairness Act
The Small Business Regulatory Enforcement Fairness Act of 1996
(Pub. L. 104-121) (SBREFA) provides generally for congressional review
of agency rules. A reporting requirement is triggered in instances
where NCUA issues a final rule as defined by Section 551 of the APA. 5
U.S.C. 551. The Office of Management and Budget has determined that
this rule is not a major rule for purposes of SBREFA. As required by
SBREFA, NCUA will file the appropriate reports with Congress and the
Government Accountability Office so this rule may be reviewed.
List of Subjects
12 CFR Part 700
Credit unions.
12 CFR Part 704
Credit unions, Surety bonds.
12 CFR Part 705
Community development, Credit unions, Loan programs--housing and
community development.
12 CFR Part 707
Advertising, Consumer protection, Credit unions, Reporting and
recordkeeping requirements, Truth in savings.
12 CFR Part 708b
Credit unions, Mergers of credit unions, Reporting and
recordkeeping requirements.
12 CFR Part 711
Credit unions.
12 CFR Part 713
Bonds, Credit unions, Insurance.
[[Page 30477]]
12 CFR Part 716
Bank deposit insurance, Consumer protection, Credit unions,
Privacy.
12 CFR Part 723
Credit unions, Loan programs--business, Reporting and recordkeeping
requirements.
12 CFR Part 760
Credit unions, Flood insurance, Mortgages.
12 CFR Part 792
Confidential business information, Freedom of information,
Government employees, Privacy.
By the National Credit Union Administration Board on May 20,
2008.
Mary Rupp,
Secretary of the Board.
0
For the reasons discussed above, NCUA is amending 12 CFR parts 700,
704, 705, 707, 708b, 710, 711, 713, 716, 723, 760, and 792 as follows:
PART 700--DEFINITIONS
0
1. The authority citation for part 700 continues to read as follows:
Authority: 12 U.S.C. 1752, 1757(6), 1766.
Sec. 700.2 [Amended]
0
2. Section 700.2 is amended by removing the words ``means a State'' and
adding in their place the words ``means a state'', and by removing the
word ``Territories'' and adding in its place the word ``territories''.
PART 704--CORPORATE CREDIT UNIONS
0
3. The authority citation for part 704 continues to read as follows:
Authority: 12 U.S.C. 1766(a), 1781, 1789.
Sec. 704.8 [Amended]
0
4. Section 704.8(a)(4) is amended by removing the word ``and'' after
the phrase ``of this section;''.
PART 705--COMMUNITY DEVELOPMENT REVOLVING LOAN PROGRAM FOR CREDIT
UNIONS
0
5. The authority citation for part 705 continues to read as follows:
Authority: 12 U.S.C. 1772C-1; 42 U.S.C. 9822 and 9822 note.
0
6. Section 705.5(b)(1) introductory text is amended by revising the
last sentence to read as follows:
Sec. 705.5 Application for participation.
* * * * *
(b) * * *
(1) * * * A nonfederally insured credit union must include the
following:
* * * * *
PART 707--TRUTH IN SAVINGS
0
7. The authority citation for part 707 continues to read as follows:
Authority: 12 U.S.C. 4311.
0
8. Section 707.8 is amended by revising paragraph (c)(5) to read as
follows:
Sec. 707.8 Advertising.
* * * * *
(c) * * *
(5) Effect of fees. A statement that fees could reduce the earnings
on the account.
* * * * *
PART 708b--MERGERS OF FEDERALLY-INSURED CREDIT UNIONS; VOLUNTARY
TERMINATION OR CONVERSION OF INSURED STATUS
0
9. The authority citation for part 708b continues to read as follows:
Authority: 12 U.S.C. 1752(7), 1766, 1785, 1786, 1789.
Sec. 708b.105 [Amended]
0
10. Section 708b.105(b) is amended by removing the word ``Part'' and
adding in its place ``part'' in the first sentence.
Sec. 708b.203 [Amended]
0
11. Section 708b.203(e)(1) is amended by removing the duplicate word
``it'' appearing after the words ``credit union that''.
Sec. 708b.301 [Amended]
0
12. Section 708b.301 is amended as follows:
0
A. Paragraph (c) is amended by adding a period after the parenthetical
``(Insert name of independent entity and address)'' in the first full
paragraph beginning with ``The credit union must''.
0
B. Paragraph (c) is further amended by removing the word ``accounts''
and adding in its place the word ``account'' after the words ``if I use
different'' in the second full paragraph beginning with ``I understand
if''.
0
C. Paragraph (d)(5) is amended by removing the word ``inset'' and
adding in its place the word ``insert'' in the parenthetical following
the words ``a majority voted'' in the eighth paragraph beginning with
``(insert ``20% or more'')''.
Sec. 708b.302 [Amended]
0
13. Section 708b.302 is amended as follows:
0
A. Paragraph (c) is amended by removing the word ``accounts'' and
adding in its place the word ``account'' after the words ``if I use
different'' in the second full paragraph beginning with ``I Understand
if''.
0
B. Paragraph (d)(5) is amended by removing the word ``and'' and adding
in its place the word ``an'' before the words ``entity independent'' in
the first full paragraph beginning with ``The (insert name)''.
0
C. Paragraph (d)(5) is further amended by removing the word ``inset''
and adding in its place the word ``insert'' before the words ``in favor
of'' in the eighth paragraph beginning with ``(insert ``20% or
more'')''.
0
14. Section 708b.303 is amended as follows:
0
A. Paragraph (b) is amended by revising the first sentence in the
second full paragraph to read as set forth below.
0
B. Paragraph (c)(5) is amended by removing the word ``and'' and adding
in its place the word ``an'' before the words ``entity independent'' in
the first sentence.
Sec. 708b.303 Conversion of insurance through merger.
* * * * *
(b) * * *
I understand if the merger or conversion of the (insert name of
merging credit union) into the (insert name of continuing credit union)
is approved, the National Credit Union Administration share (deposit)
insurance I now have, up to $100,000, or possibly more if I use
different account structures, will terminate upon the effective date of
the conversion. * * *
* * * * *
PART 711--MANAGEMENT OFFICIAL INTERLOCKS
0
16. The authority citation for part 711 continues to read as follows:
Authority: 12 U.S.C. 1757 and 3201-3208.
Sec. 711.2 [Amended]
0
17. Section 711.2(j) is amended by removing the italicized phrase
``Low- and moderate-income'' and adding in its place the italicized
phrase ``Low and moderate-income''.
PART 713--FIDELITY BOND AND INSURANCE COVERAGE FOR FEDERAL CREDIT
UNIONS
0
18. The authority citation for part 713 continues to read as follows:
Authority: 12 U.S.C. 1761A, 1761B, 1766(a), 1766(h),
1789(a)(11).
[[Page 30478]]
Sec. 713.4 [Amended]
0
19. Section 713.4(a) is amended by removing the words ``Web site'' and
adding in its place the word ``website''.
PART 716--PRIVACY OF CONSUMER FINANCIAL INFORMATION
0
20. The authority citation for part 716 continues to read as follows:
Authority: 15 U.S.C. 6801 et seq., 12 U.S.C. 1751 et seq.
Sec. 716.3 [Amended]
0
21. Section 716.3 is amended as follows:
0
A. Paragraph (b)(2)(iii) is amended by removing the italicized words
``web sites'' and adding in their place the italicized word
``websites'' in the paragraph heading, removing the words ``web site''
and adding in their place the word ``website'' in the first sentence,
and removing the word ``form'' and adding in its place with the word
``from'' after the words ``not distract attention'' in the first
sentence.
0
B. Paragraph (e)(2)(iii) is amended by removing the parentheses from
the sentence that begins ``(The individual'' and ends with
``institutions involved).''
PART 723--MEMBER BUSINESS LOANS
0
22. The authority citation for part 723 continues to read as follows:
Authority: 12 U.S.C. 1756, 1757, 1757A, 1766, 1785, 1789.
Sec. 723.21 [Amended]
0
23. Section 723.21 is amended as follows:
0
A. In the definition of Construction or development loan, Example 4 is
amended by removing the word ``incoming'' in the fourth sentence and
adding in its place the word ``income''.
0
B. The definition of Net worth is amended by removing the phrase ``low
income-designated'' and adding in its place the phrase ``low-income
designated'' in the fourth sentence.
PART 760--LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS
0
24. The authority citation for part 760 continues to read as follows:
Authority: 12 U.S.C. 1757, 1789; 42 U.S.C. 4012a, 4104a, 4104b,
4106, and 4128.
Sec. 760.7 [Amended]
0
25. Section 760.7 is amended by removing the comma before the words
``at any time during'' and adding a comma after the words ``not covered
by flood insurance'' in the first sentence.
PART 792--REQUESTS FOR INFORMATION UNDER THE FREEDOM OF INFORMATION
ACT AND PRIVACY ACT, AND BY SUBPEONA; SECURITY PROCEEDURES FOR
CLASSIFIED INFORMATION
0
26. The authority citation for part 792 continues to read as follows:
Authority: 5 U.S.C. 301, 552, 552A, 552B; 12 U.S.C. 1752a(d),
1766, 1789, 1795f; E.O. 12600, 52 FR 23781, 3 CFR, 1987 Comp., p.
235; E.O. 12958, 60 FR 19824, 3 CFR, 1995 Comp., p. 333.
Sec. 792.10 [Amended]
0
27. Section 792.10(b) is amended by removing the words ``which meets''
and adding in their place the words ``that meet'' in the third
sentence.
Sec. 792.16 [Amended]
0
28. Section 792.16(a) is amended by adding a comma after the words
``extends the time'' and removing the comma after the words ``with
written notice'' in the second sentence.
Sec. 792.28 [Amended]
0
29. Section 792.28 is amended by moving the period outside the
parenthetical ``(in case of partial denials)'' in the second sentence.
Sec. 792.50 [Amended]
0
30. Section 792.50(a) is amended by removing the parenthetical phrase
from the first sentence.
Sec. 792.51 [Amended]
0
31. Section 792.51(b) is amended by removing the words ``Personnel
Office'' wherever they appear in the fourth sentence and adding in
their place the words ``Office of Human Resources''.
[FR Doc. E8-11736 Filed 5-27-08; 8:45 am]
BILLING CODE 7535-01-P
