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#1120030 - 01/30/09 04:29 PM Executive Officer lending limits
VWgirl21 Offline
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Joined: Jan 2008
Posts: 199
The Bluegrass
A bank's executive officer's father dies and he inherits his father's portion in a company. Along with that, he inherits his farther's portion of the company's loan at the officer's bank. The loan pushes the executive officer's loan totals over the allowable limit. Does the loan he inherited need to included in the officer's loan totals for Reg. O purposes?
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Lending Compliance
#1120063 - 01/30/09 04:39 PM Re: Executive Officer lending limits VWgirl21
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,363
Galveston, TX
How does he inherit the father's portion of the loan? You would have to get him to specifically sign a guarantee to indebt him, and that act would fall under the Reg. O limiations. I think we need more info.
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