Bank loans.

CFR · 2024-01-01 · US · Title 11

(a) (1) Bears the usual and customary interest rate of the lending institution for the category of loan involved; (2) Is made on a basis that assures repayment; (3) Is evidenced by a written instrument; and (4) Is subject to a due date or amortization schedule. (b) (c) (d) (1) The overdraft is made on an account that is subject to automatic overdraft protection; (2) The overdraft is subject to a definite interest rate that is usual and customary; and (3) There is a definite repayment schedule. (e) (1)(i) The lending institution making the loan has perfected a security interest in collateral owned by the candidate or political committee receiving the loan, the fair market value of the collateral is equal to or greater than the loan amount and any senior liens as determined on the date of the loan, and the candidate or political committee provides documentation to show that the lending institution has a perfected security interest in the collateral. Sources of collateral include, but are not limited to, ownership in real estate, personal property, goods, negotiable instruments, certificates of deposit, chattel papers, stocks, accounts receivable and cash on deposit. (ii) Amounts guaranteed by secondary sources of repayment, such as guarantors and cosigners, shall not exceed the contribution limits of 11 CFR part 110 or contravene the prohibitions of 11 CFR 110.4, 110.20, part 114 and part 115; or (2) The lending institution making the loan has obtained a written agreement where

official document · source cfr-2024 · id 11:§ 100.82