4240 Federal Register / Vol. 71, No. 17 / Thursday, January 26, 2006 / Rules and Regulations 

only at the option of the LICU and only with 

the prior approval of the appropriate regional 

director. 

3. Uninsured, non-share account. The 

secondary capital account is not a share 

account and the funds committed to the 

secondary capital account are not insured by 

the National Credit Union Share Insurance 

Fund or any other governmental or private 

entity. 

4. Prepayment risk. Redemption of U.S.C. 

prior to the account’s original maturity date 

may expose the account investor to the risk 

of being unable to reinvest the repaid funds 

at the same rate of interest for the balance of 

the period remaining until the original 

maturity date. The investor acknowledges 

that it understands and assumes 

responsibility for prepayment risk associated 

with the [name of credit union]’s redemption 

of the investor’s U.S.C. account prior to the 

original maturity date. 

5. Availability to cover losses. The funds 

committed to the secondary capital account 

and any interest paid into the account may 

be used by [name of credit union] to cover 

any and all operating losses that exceed the 

credit union’s net worth exclusive of 

allowance accounts for loan losses, and in 

the event the funds are so used, (name of 

credit union) will under no circumstances 

restore or replenish those funds to [name of 

institutional investor]. Dividends are not 

considered operating losses and are not 

eligible to be paid out of secondary capital. 

6. Accrued interest. By initialing below, 

[name of credit union] and [name of 

institutional investor] agree that accrued 

interest will be: 

llPaid into and become part of the 

secondary capital account; 

llPaid directly to the investor; 

llPaid into a separate account from which 

the investor may make withdrawals; or 

llAny combination of the above provided 

the details are specified and agreed to in 

writing. 

7. Subordination of claims. In the event of 

liquidation of [name of credit union], the 

funds committed to the secondary capital 

account will be subordinate to all other 

claims on the assets of the credit union, 

including claims of member shareholders, 

creditors and the National Credit Union 

Share Insurance Fund. 

8. Prompt Corrective Action. Under certain 

net worth classifications (see 12 CFR 

702.204(b)(11), 702.304(b) and 702.305(b), as 

the case may be), the NCUA Board may 

prohibit [name of credit union] from paying 

principal, dividends or interest on its 

uninsured secondary capital accounts 

established after August 7, 2000, except that 

unpaid dividends or interest will continue to 

accrue under the terms of the account to the 

extent permitted by law. 

ACKNOWLEDGED AND AGREED TO this __ 

day of [month and year] by: 

lllllllllllllllllllll

[name of investor’s official] 

[title of official] 

[name of investor] 

[address and phone number of investor] 

[investor’s tax identification number] 

lllllllllllllllllllll

[name of credit union official] 

[title of official] 

PART 741—REQUIREMENTS FOR 

INSURANCE 

■ 1. The authority citation for part 741 

continues to read as follows: 

Authority: 12 U.S.C. 1757, 1766, 1781—

1790, and 1790d. Section 741.4 is also 

authorized by 31 U.S.C. 3717. 

■ 2. Amend § 741.204 as follows: 

■ a. Remove from paragraph (c) the 

citation ‘‘§ 701.34’’ wherever it appears 

and add in its place the citation 

‘‘§ 701.34(b)(1)’’; 

■ b. Revise the second sentence of 

paragraph (c) and add a new third 

sentence to read as set forth below; and 

■ c. Add new paragraph (d) to read as 

set forth below: 

§ 741.204 Maximum public unit and 

nonmember accounts, and low income 

designation. 

* * * * * 

(c) * * * State chartered federally 

insured credit unions offering secondary 

capital accounts must submit the plan 

required by § 701.34(B)(1) to both the 

state supervisory authority and the 

NCUA Regional Director for approval. 

The state supervisory authority must 

approve or disapprove the plan with the 

concurrence of the appropriate NCUA 

Regional Director. 

(d) Redeem secondary capital 

accounts only in accordance with the 

terms and conditions authorized for 

federal credit unions pursuant to 

§ 701.34(d) of this chapter and to the 

extent not inconsistent with applicable 

state law and regulation. State chartered 

federally insured credit unions seeking 

to redeem secondary capital accounts 

must submit the request required by 

§ 701.34(d)(1) to both the state 

supervisory authority and the NCUA 

Regional Director. The state supervisory 

authority must grant or deny the request 

with the concurrence of the appropriate 

NCUA Regional Director. 

[FR Doc. 06–686 Filed 1–25–06; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2005–20643; Airspace 

Docket No. 05–AAL–13] 

Establishment of Class D Airspace; 

and Revision of Class E Airspace; Big 

Delta, Allen Army Airfield, Fort Greely, 

AK 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; correction. 

SUMMARY: This action corrects an error 

in the airspace description contained in 

a Final Rule that was published in the 

Federal Register on Thursday, 

September 22, 2005 (70 FR 55531). 

Airspace Docket No. 05–AAL–13. 

EFFECTIVE DATE: February 27, 2006. 

FOR FURTHER INFORMATION CONTACT: 

Derril Bergt, AFSAO, Federal Aviation 

Administration, 222 West 7th Avenue, 

Box 14, Anchorage, AK 99513–7587; 

telephone number (907) 271–2796; fax: 

(907) 271–2850; e-mail: 

derril.bergt@faa.gov. Internet address: 

http://www.alaska.faa.gov/at. 

SUPPLEMENTARY INFORMATION: 

History 

Federal Register Document FAA–

2005–20643, FR Doc. 05–18931, 

published on Thursday, September 22, 

2005 (70 FR 55531), established Class D 

airspace at Big Delta, Allen Army 

Airfield, AK. An error was discovered in 

the airspace description that 

misidentified a highway name in the 

description of an area excluded from the 

Class D Airspace. This action corrects 

that error. 

Correction to Final Rule 

Accordingly, pursuant to the 

authority delegated to me, the airspace 

description of the Class D airspace 

published in the Federal Register, 

Thursday, September 22, 2005 (70 FR 

55531), (FR Doc 05–18931), page 55533, 

column 1) is corrected as follows: 

§ 71.1 [Corrected] 

* * * * * 

AAL AK D Big Delta, AK [Corrected] 

Big Delta, Allen AAF, AK 

(Lat. 63°59′40′′ N., long. 145°43′18′′ W.) 

Big Delta VORTAC 

(Lat. 64°00′16′′ N., long. 145°43′02′′ W.) 

Delta Junction Airport 

(Lat. 64°03′02′′ N., long. 145°43′02′′ W.) 

That airspace extending upward from the 

surface to and including 3,800 feet MSL 

within a 6.3-mile radius of the Allen AAF; 

excluding the portion within the boundary of 


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Federal Register / Vol. 71, No. 17 / Thursday, January 26, 2006 / Rules and Regulations 4241 

restricted area 2202A, and excluding that 

portion at and below 700 feet above ground 

level from a point one-half mile south of the 

Delta Junction Airport (D66) extending via 

the 090° bearing to 1 mile east of the 

Richardson Highway and via the 270 bearing 

to 1 mile west of the Delta River; thence 

northwest parallel to the Richardson 

Highway and the Delta River, to the 

boundary of Class D airspace. 

* * * * * 

Issued in Anchorage, AK, on January 13, 

2006. 

Anthony M. Wylie, 

Manager, Safety, Area Flight Service 

Operations. 

[FR Doc. 06–728 Filed 1–25–06; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2005–22855; Airspace 

Docket No. 05–AAL–35] 

Establishment of Class E Airspace; 

Chignik, AK 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule. 

SUMMARY: This action creates Class E 

airspace at Chignik, AK to provide 

adequate controlled airspace to contain 

aircraft executing a new Standard 

Instrument Approach Procedure (SIAP) 

at the airport. This rule results in new 

Class E airspace upward from 700 ft. 

and 1,200 ft. above the surface at the 

Chignik Airport, Chignik AK. 

EFFECTIVE DATE: 0901 UTC, April 13, 

2006. 

FOR FURTHER INFORMATION CONTACT: Gary 

Rolf, AAL–538G, Federal Aviation 

Administration, 222 West 7th Avenue, 

Box 14, Anchorage, AK 99513–7587; 

telephone number (907) 271–5898; fax: 

(907) 271–2850; e-mail: 

gary.ctr.rolf@faa.gov. Internet address: 

http://www.alaska.faa.gov/at. 

SUPPLEMENTARY INFORMATION: 

History 

On Thursday, November 17, 2005, the 

FAA proposed to amend part 71 of the 

Federal Aviation Regulations (14 CFR 

part 71) to modify Class E airspace 

upward from 700 ft. and 1,200 ft. above 

the surface at Chignik, AK (70 FR 

69711). The action was proposed in 

order to create Class E airspace 

sufficient in size to contain aircraft 

while executing one new SIAP for the 

Chignik Airport. The new approach is 

the Area Navigation (Global Positioning 

System) (RNAV (GPS)) Runway (RWY) 

02, original. Class E controlled airspace 

extending upward from 700 ft. and 

1,200 ft. above the surface in the 

Chignik Airport area is created by this 

action. The NPRM listed the runway 

designation incorrectly as runway 01. 

The correct runway designation is 

runway 02. Airspace more than 12 

Nautical Miles (NM) from the shoreline 

will be excluded from this action. That 

controlled airspace outside 12 NM from 

the shoreline within 72.8 NM of the 

airport will be created in coordination 

with HQ FAA ATA–400 by modifying 

existing Offshore Airspace Areas in 

accordance with FAA Order 7400.2. 

That NPRM is currently published as 

Docket # FAA–2005–22024, 05–AL–38. 

Interested parties were invited to 

participate in this rulemaking 

proceeding by submitting written 

comments on the proposal to the FAA. 

No public comments have been 

received; thus the rule is adopted as 

proposed. 

The area will be depicted on 

aeronautical charts for pilot reference. 

The coordinates for this airspace docket 

are based on North American Datum 83. 

The Class E airspace areas designated as 

700/1,200 ft. transition areas are 

published in paragraph 6005 of FAA 

Order 7400.9N, Airspace Designations 

and Reporting Points, dated September 

1, 2005, and effective September 15, 

2005, which is incorporated by 

reference in 14 CFR 71.1. The Class E 

airspace designation listed in this 

document will be published 

subsequently in the Order. 

The Rule 

This amendment to 14 CFR part 71 

creates Class E airspace at Chignik, 

Alaska. This Class E airspace is created 

to accommodate aircraft executing one 

new SIAP and will be depicted on 

aeronautical charts for pilot reference. 

The intended effect of this rule is to 

provide adequate controlled airspace for 

Instrument Flight Rule (IFR) operations 

at Chignik Airport, Chignik, Alaska. 

The FAA has determined that this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current. It, therefore—(1) is not a 

‘‘significant regulatory action’’ under 

Executive Order 12866; (2) is not a 

‘‘significant rule’’ under DOT 

Regulatory Policies and Procedures (44 

FR 11034; February 26, 1979); and (3) 

does not warrant preparation of a 

regulatory evaluation as the anticipated 

impact is so minimal. Since this is a 

routine matter that will only affect air 

traffic procedures and air navigation, it 

is certified that this rule will not have 

a significant economic impact on a 

substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the United States Code. 

Subtitle 1, Section 106 describes the 

authority of the FAA Administrator. 

Subtitle VII, Aviation Programs, 

describes in more detail the scope of the 

agency’s authority. 

This rulemaking is promulgated 

under the authority described in 

Subtitle VII, Part A, Subpart 1, Section 

40103, Sovereignty and use of airspace. 

Under that section, the FAA is charged 

with prescribing regulations to ensure 

the safe and efficient use of the 

navigable airspace. This regulation is 

within the scope of that authority 

because it creates Class E airspace 

sufficient in size to contain aircraft 

executing the instrument procedure for 

the Chignik Airport and represents the 

FAA’s continuing effort to safely and 

efficiently use the navigable airspace. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

■ In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

CLASS B, CLASS C, CLASS D, AND 

CLASS E AIRSPACE AREAS; 

AIRWAYS; ROUTES; AND REPORTING 

POINTS 

■ 1. The authority citation for 14 CFR 

part 71 continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR 71.1 of Federal Aviation 

Administration Order 7400.9N, 

Airspace Designations and Reporting 

Points, dated September 1, 2005, and 

effective September 15, 2005, is 

amended as follows: 

* * * * * 

Paragraph 6005 Class E airspace extending 

upward from 700 feet or more above the 

surface of the earth. 

* * * * * 

AAL AK E5 Chignik, AK [New] 

Chignik Airport, AK 

(Lat. 56°18′41′′ N., long. 158°22′24′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.3-mile 


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