Southwest Marine and General Insurance Co. v. National Credit Union Administration Board
The court found that 12 USC 1787(b) required the insurer to file suit within sixty days of the adminsitration board's challenge of the insurer's rescission of a credit union's fidelity bond, and the court did not have jurisdiction to hear its cause because of its failure to do so; however, the court had jurisdiction to hear the insurer's affirmative defenses to the board's claim for breach of the fidelity bond.
fidelity bond, rescission, subject matter jurisdiction, 12 USC 1787(b), asset, exhaustion of administrative remedies, affirmative defenses
Reviewing the Case Document is for members only. Please login