Disclosure of loan documents.

CFR · 2024-01-01 · US · Title 12

(a) For purposes of this section, the following definitions shall apply: (1) (2) (3) (4) (5) (6) (i) A System institution that makes loans (as defined in paragraph (a)(3) of this section) except a bank for cooperatives; and (ii) Each bank, institution, corporation, company, union, and association described in section 1.7(b)(1)(B) of the Act, but only with respect to loans discounted or pledged under section 1.7(b)(1) of the Act. (b) Each qualified lender shall provide a copy of all loan documents to the borrower or the borrower's legal representative at the execution of the loan. Subsequently, upon written request of a borrower or a borrower's legal representative, a qualified lender shall provide, as soon as practicable, a copy of any loan documents signed by the borrower, a copy of other documents delivered by such borrower to that qualified lender, and a copy of each collateral evaluation of the borrower's assets made or used by the qualified lender. To the extent that a collateral evaluation may contain confidential third party information, the lender may protect such confidential third party information by withholding any information that would disclose identifying characteristics of the third party or his property. One copy shall be furnished free of charge. The lender may assess reasonable copying charges for any additional copies requested by the borrower. (c) Each System bank and association shall have available in its offices copies of the institution's articles of

official document · source cfr-2024 · id 12:§ 618.8325