Section 72.09. Calculating the aggregate 15% limit.

  To calculate the aggregate 15% limitation, the credit union shall do the following:

(1)  Calculate the numerator by adding together the amount of the member business loans to a member and associated members, if any. From this amount, the credit union shall subtract each of the following:

(a) Any portion secured by shares or deposits in the credit union making the extension of credit or in other credit unions, or deposits in other financial institutions.

(b) Any portion insured or guaranteed by any agency or subdivision of the state or federal government.

(c) Any portion subject to an advance commitment to purchase by any agency or subdivision of the state or federal government.

(2)  After completing the calculation in sub. (1) , divide the numerator by the credit union's net worth.

CR 02-034 : cr. Register August 2002 No. 560 , eff. 9-1-02.