Does anyone know where I can find a sample
"payable and due on demand" notice for
our executive officers and their loans? Please.

I'm not sure what type of loan documentation software you use, but they should have something. That's where ours comes from.

STATEMENT OF UNDERSTOOD ACCELERATION ABILITY


Lender: First National Bank Texas Borrower:____
P.O. Box 937
Killeen, Texas 76540-0937

Loan No.: _____________ Amount: _________

Date: _________________

This loan is made expressly subject to the condition that it may, at the option of Lender, be declared to be due and payable at any time that Borrower is indebted to any other bank or banks in an aggregate amount greater than the amount specified for a category of credit in 12 CFR 215.5(c).


Borrower:______________


(To be completed for all loans to Executive Officers excluding open end lines of credit (excluding overdrafts) for $15,000 or less when Board approval is provided (if necessary) and under terms not more favorable than those afforded the non-FIRA applicable borrowers.)

Autumn,
Thanks, but the lenders don't have a clue...

Andy,
Thanks again, if I ever meet you, I will buy you
that umbrella drink... or is it Crown

Maria, do you use a loan document preparation software, such as BankerSystems or LaserPro? If you do, they should have a box to check indicating that the loan is to an exec, which will put the Reg O clause in your note. I think that's what Autumn was getting at.

If you prepare docs by hand, Andy's clause is the way to go, of course.

Sorry. I guess I thought that your documentation was centralized like ours is.

No, they do prepare everything manually, amazing for a 17 branch outfit, eh?
I will mention those products to the CLO, though. Thanks for the info.

As I told lglover, it's amazing...

Dear Autumn,
Please, don't ever be sorry for another's banks
failure to leap into the 21st century...

After being in compliance for over 8 years it all runs right off of my back.