Utah Administrative Code
Topic - Financial Institutions
Title R337 - Credit Unions
Rule R337-4 - Establishment of "Credit Union Service Organizations"
Section R337-4-8 - Purchase and Sale of Loans and Participations in Loans
Universal Citation: UT Admin Code R 337-4-8
Current through Bulletin 2024-06, March 15, 2024
(1) A credit union service organization shall have authority to make loan participation arrangements with other credit unions, credit union service organizations, or financial organizations in accordance with its written policies, if the credit union service organization that originates a loan for which participation arrangements are made retains an interest of at least 10% of the loan.
(2) A credit union service organization shall comply with Rule R331-12.
(3) The limitations set forth in Section 7-9-20(7)(f) apply to loan participations purchased or sold by a credit union service organization.
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