Golden Parachute and Indemnification Payments, 12 CFR Part 750

This rule prohibits, in certain circumstances, a federally insured credit union (FICU) from making golden parachute and indemnification payments to an institution-affiliated party (IAP). Section 750.6 requires requests by a troubled FICU to make a severance or golden parachute payment to an IAP to be submitted in writing to NCUA. The information will be used by the NCUA to determine whether an exception to the general prohibition on golden parachute payments should be approved.

The latest form for Golden Parachute and Indemnification Payments, 12 CFR Part 750 expires 2021-10-31 and can be found here.