Title 12 Part 1010 → Subpart C → §1010.508

Title 12 → Chapter X → Part 1010 → Subpart C → §1010.508

Electronic Code of Federal Regulations e-CFR

Title 12 Part 1010 → Subpart C → §1010.508

e-CFR data is current as of May 27, 2020

Title 12Chapter XPart 1010Subpart C → §1010.508

Title 12: Banks and Banking
Subpart C—Certification of Substantially Equivalent State Law

§1010.508   Effect of suspension of certification granted under 15 U.S.C. 1708(a)(2): Sufficient protection requirement.

(a) If a state certified under 15 U.S.C 1708(a)(2) suspends its own certification or has its certification withdrawn under §1010.505, the effectiveness of the Federal disclosure materials accepted and made effective by the Director, pursuant to §1010.506, prior to the suspension or withdrawal shall terminate ninety (90) days after the notice of withdrawal order is published in the Federal Register as provided in §1010.505(c).

(b) At the end of the ninety day period, or during the ninety day period in the event that there is a change in material fact with regard to a subdivision that remains registered under the provisions of paragraph (a) of this section, the developer shall file a new registration with the Director meeting the requirements of the then applicable Federal registration regulations. Modifications of the Federal format may be used as specified by the Director.

[76 FR 79489, Dec. 21, 2011, as amended at 81 FR 29118, May 11, 2016]