Aggregate member business loan limit; exclusions and exceptions.

CFR · 2024-01-01 · US · Title 12

This section incorporates the statutory limits on the aggregate amount of member business loans that may be held by a federally insured credit union and establishes the method for calculating a federally insured credit union's net member business loan balance for purposes of the statutory limits and NCUA form 5300 reporting. (a) (b) (1) Any loan in which a federal or state agency (or its political subdivision) fully insures repayment, fully guarantees repayment, or provides an advance commitment to purchase the loan in full; and (2) Any non-member commercial loan or non-member participation interest in a commercial loan made by another lender, provided the federally insured credit union acquired the non-member loans and participation interests in compliance with all relevant laws and regulations and it is not, in conjunction with one or more other credit unions, trading member business loans to circumvent the aggregate limit. (3) Any loan that is fully secured by a lien on a 1- to 4- family dwelling. (c) (d) (e)

official document · source cfr-2024 · id 12:§ 723.8