This is from the Steel Tube Institute of North America - "Guide for Installing Steel Conduit/Tubing":
"To insure that the threads are properly engaged, the coupling should be made up hand-tight, then wrench tightened. Generally, wrench-tightening should not exceed three additional threads. It should never be necessary to use an extension handle on a wrench to make up a tight joint."
and..
"Threaded openings where these fittings are intended to be used are permitted to have either tapered (NPT) or straight (NPS) threads. Care should be taken to insure that the threaded entry will accommodate a minimum of 3 full engaged threads of the fitting."
UL also has a table in the RMC specification - UL6, which specifies the correct pitch and effective length of cut threads. These all vary by trade size.
I concur with the STI's suggestion. As a rule of thumb, I would have a minimum of 3 full threads inside a fitting or hub - not only for mechanical, but electrical and environmental purposes. Any less than that, (even though it looks fine), you may be on the hairy edge of the fitting thread tolerances.
NEC 344.28 suggests in the FPN that the threads should be recut the same as the manufacturer supplied threading, Also, cutting too many threads will also cause a weak joint and poor grounding continuity.
I believe this is more of a workmanship issue, rather than a specific NEC requirement.
Hope that helps.