Leasing.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) The term (i) The servicing, repair or maintenance of the leased property during the lease term; (ii) The purchasing of parts and accessories for the leased property, except that improvements and additions to the leased property may be leased to the lessee upon its request in accordance with the full-payout requirements of paragraph (c)(2)(i) of this section; (iii) The loan of replacement or substitute property while the leased property is being serviced; (iv) The purchasing of insurance for the lessee, except where the lessee has failed to discharge a contractual obligation to purchase or maintain insurance; or (v) The renewal of any license, registration, or filing for the property unless such action by the Federal savings association is necessary to protect its interest as an owner or financier of the property. (2) The term (3) The term (i) Rentals; (ii) Estimated tax benefits, if any; and (iii) The estimated residual value of the property at the expiration of the term of the lease. (c) (2) (i) The lease must be a net, full-payout lease representing a non-cancelable obligation of the lessee, notwithstanding the possible early termination of the lease; (ii) The portion of the estimated residual value of the property relied upon by the lessor to satisfy the requirements of a full-payout lease must be reasonable in light of the nature of the leased property and all relevant circumstances so that realization of the lessor's full investment plus the cost of financing

official document · source cfr-2024 · id 12:§ 160.41