Section 72.15. Exceptions to the aggregate business loan limit.

Latest version.

Credit unions that meet any one of the following criteria qualify for an exception from the aggregate member business loan limit:

(1) Credit unions that have a low-income designation.

(2) Credit unions that participate in the Community Development Financial Institutions program.

(3) Credit unions that are chartered for the purpose of making member business loans, as supported by documentary evidence.

Example: The credit union's charter, bylaws, business plan, field of membership, board minutes and loan portfolio.

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

                    
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