Code of Colorado Regulations
700 - Department of Regulatory Agencies
703 - Division of Financial Services
3 CCR 703-3 - RULES AND REGULATIONS OF THE COLORADO DIVISION OF FINANCIAL SERVICES PERTAINING TO CREDIT UNIONS
Section 3 CCR 703-3-4.4 - Sale of Loans
Universal Citation: 3 CO Code Regs 703-3, ยง 4.4
Current through Register Vol. 47, No. 17, September 10, 2024
In accordance with C.R.S. 11-30-104(1)(k), and without further approval by the Commissioner, a credit union may sell, in whole or in part, to any party, a loan or group of loans to its members, provided it complies with the following conditions:
(a) The credit union's board of directors has adopted written policies that authorize such loan sales.
(b) The credit union retains a written agreement and a schedule of the loans sold pursuant to the agreement. C.R.S. 11-30-104(1)(k)
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