Investment in personal property.

CFR · 2024-01-01 · US · Title 12

(a) (1) A conforming lease; (2) A legally binding written agreement that indemnifies the bank against loss in connection with its acquisition of the property; or (3) A legally binding written commitment to enter into a conforming lease. (b) (1) The acquisition of the property is consistent with the leasing business then conducted by the bank or is consistent with a business plan for expansion of the bank's existing leasing business or for entry into the leasing business; and (2) The bank's aggregate investment in property held pursuant to this paragraph (b) does not exceed 15 percent of the bank's capital and surplus. (c) (d)

official document · source cfr-2024 · id 12:§ 23.4