§ 3023. — Appeal procedures applicable upon denial or restriction of application for assistance.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3023]
TITLE 12--BANKS AND BANKING
CHAPTER 31--NATIONAL CONSUMER COOPERATIVE BANK
SUBCHAPTER I--ESTABLISHMENT AND OPERATION
Sec. 3023. Appeal procedures applicable upon denial or
restriction of application for assistance
(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. 95-351, title I, Sec. 113, Aug. 20, 1978, 92 Stat. 510.)
