Exactly what all does the disclosurefor Reg O needs to say?

The disclosure from ARTA id more detail than what LaserPro has.

LaserPro has the following:

Pursuant to federal law, and notwithstanding any other provisions of this Promissory Note, this extension of credit will become due and payable at the option of Lender at any time Borrower becomes indebted to any and all other banks in aggregate amount greater than the amount the Borrower would be permitted to borrow under the provisions in the federal statutes governing loans to insiders.

Is this enough to comply or does it have to be more detailed like the disclosure in ARTA?

Thanks,

That should be sufficient.

Thank you Dan!

The way that 12 CFR 215.5(d) reads, it only mentions executive officers here.

Would we also require board members to sign this as well?

The demand clause is only required for executive officers.

Thank you!