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We have an executive officer that currently has a 1st lien mortgage and a home equity on the same property. He also wants to purchase a lot to build a new house, this lot loan would become financed into one construction perm loan. He will eventually move into this home once the other is sold. Is this possible under Reg-O or would it be best to have this individual finance the construction of his new home at another institution? I am worried about the rule of only having one 1st lien at a time, even though this will be temporary.
We have a loan request from a limited partnership that is owned by an executive officer's wife and her family. Is this loan subject to the Regulation O $100,000 limit for Executive Officers?
Is it still a requirement that all executive officer loans contain a "due on demand" clause as well as other normal terms?
Does Regulation O cover preferential treatment in board and executive compensation? Also, would preferential treatment surrounding vendor service agreements with the related interests of insiders be covered in Reg O?
Is a loan to a business owned by a director's wife subject to Reg O? The director provides no personal guarantee.
Is the chairman of the holding company of the bank subject to the more restrictive lending requirements of executive officers of the bank under Reg O?
Is it a requirement to put the demand clause in the note when our loan is to an entity and one of the officers is a board member?