12 CFR 723.11 - How do you obtain a waiver?
To obtain a waiver, a federal credit union must submit a request to the Regional Director (a corporate federal credit union submits the waiver request to the Director of the Office of Corporate Credit Unions). A state chartered federally insured credit union must submit the request to its state supervisory authority. If the state supervisory authority approves the request, the state regulator will forward the request to the Regional Director (or if appropriate the Director of the Office of Corporate Credit Unions). A waiver is not effective until it is approved by the Regional Director (or in the case of a corporate federal credit union the Director of the Office of Corporate Credit Unions). The waiver request must contain the following:
(e) An analysis of the credit union's prior experience making member business loans, including as a minimum:
(4) Concentrations of credit to one borrower or group of associated borrowers in excess of 15% of net worth;
Title 12 published on 2013-01-01
no entries appear in the Federal Register after this date.