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#834682 - 10/15/07 05:33 PM Reg. O reporting to Board
LoisLane Offline
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LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Are these still requirements--

1) All loans to executive officers must be promptly reported to the board of directors at the next regularly scheduled meeting.

2) Each executive officer who becomes indebted to other banks in an aggregate amount greater than what the insider can borrower at his or her bank must report such indebtedness to the board of directors within ten days.

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Lending Compliance
#834777 - 10/15/07 06:50 PM Re: Reg. O reporting to Board LoisLane
redsfan Offline
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redsfan
Joined: Dec 2000
Posts: 3,455
The Pennant Race
1.) Yes. See 215.5(d)(2).

2.) No. This was eliminated in the changes to the regulation that became effective in 7/2/2007. Formerly, this was in section 215.9, which was deleted

Last edited by redsfan; 10/15/07 06:55 PM.
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#834804 - 10/15/07 07:16 PM Re: Reg. O reporting to Board redsfan
LoisLane Offline
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LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Thanks redsfan!
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