In addition to our standard demand clauses, we've added this for our EO loans:

"at the option of the bank the debt will become due and payable at any time the officer is indebted to any other bank or banks in an amount which in the aggregate exceeds the amount this bank could legally lend the officer for the same purpose."

Is this language from 215.5 sufficient, or do I need to tighten it up?

Is the demand clause to be added to all director loans or just the open ended ones?

§215.5(c) applies to executive officers, so the director must also fit into this category. And it applies to debts, without regard to open end, closed, revolving, etc. The exception would be exempted loans where you can make them in any amount...

They could be - it is not uncommon for the CEO to also be a director. An executive officer can also be a director, but all directors are not necessarily executive officers.

Thanks Randy for the clarification.

215.2(e)(1) also makes the Chairman of your Board a presumptive Executive Officer.