Wisconsin Administrative Code
Department of Financial Institutions
DFI-CU 51-75 - Department of Financial Institutions-Credit Unions
Chapter DFI-CU 72 - Member business loans
Section DFI-CU 72.01 - Definitions

(1) "Amount" of a business loan includes all the following:

(2) "Associated member" means a person who is associated with another by means of a shared ownership, investment or other pecuniary interest in a business or commercial endeavor.

(3) "Business purpose loan" means a loan where the borrower intends to use the proceeds for any of the purposes listed in s. DFI-CU 72.02(1).

(4) "Construction or development loan" means a financing arrangement for acquiring real property or rights to real property, including land or structures, with the intent to develop or improve it for any of the following:

(5) "Director" means the director of the office of credit unions or an authorized representative of the director.

(6) "Loan-to-value ratio" or "LTV ratio" means the amount of all loans by the credit union secured by an item of collateral added to the amount of all outstanding loans by other lenders secured by that item of collateral, that total amount then being divided by the market value of that item of collateral.

(7) "Member business loan" has the meaning set forth in s. DFI-CU 72.02.

(8) "NCUA" means the National Credit Union Administration.

(9) "Net worth" means the retained earnings as defined under Generally Accepted Accounting Principles. Retained earnings include undivided earnings, regular reserves and any other appropriations designated by management or regulatory authorities.