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CFR › Title 12 › Chapter VII › Subchapter A › Part 723 › Section 723.17

12 CFR 723.17 - Are there any exceptions to the aggregate loan limit?

There is 1 rule appearing in the Federal Register for 12 CFR 723. Select the tab below to view, or View eCFR (GPOAccess)
§ 723.17
Are there any exceptions to the aggregate loan limit?
There are three circumstances where a credit union qualifies for an exception from the aggregate limit. Loans that are excepted from the definition of member business loans are not counted for the purpose of the exceptions. The three exceptions are:
(a) Credit unions that have a low-income designation or participate in the Community Development Financial Institutions program;
(b) Credit unions that were chartered for the purpose of making member business loans and can provide documentary evidence (such evidence includes but is not limited to the original charter, original bylaws, original business plan, original field of membership, board minutes and loan portfolio);
(c) Credit unions that have a history of primarily making member business loans, meaning that either member business loans comprise at least 25% of the credit union's outstanding loans (as evidenced in any call report filed between January 1995 and September 1998 or any equivalent documentation including financial statements) or member business loans comprise the largest portion of the credit union's loan portfolio (as evidenced in any call report filed between January 1995 and September 1998 or any equivalent documentation including financial statements). For example, if a credit union makes 23% member business loans, 22% first mortgage loans, 22% new automobile loans, 20% credit card loans, and 13% total other real estate loans, then the credit union meets this exception.

Title 12 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2012-05-31; vol. 77 # 105 - Thursday, May 31, 2012
    1. 77 FR 31981 - Eligible Obligations, Charitable Contributions, Nonmember Deposits, Fixed Assets, Investments, Fidelity Bonds, Incidental Powers, Member Business Loans, and Regulatory Flexibility Program
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule and interim final rule with comment period.
      Effective dates: The final rule, as well as the interim final rule pertaining to the revisions in the fidelity bond rule, § 713.6, will go into effect on July 2, 2012. Comment date: We will consider comments on the interim final rule portion (the fidelity bond rule, § 713.6), as discussed in section IV of the preamble of this rulemaking. Send your comments to reach us on or before July 30, 2012. We may not consider comments received after the above date in making any decision whether to amend the interim final rule.
      12 CFR Parts 701, 703, 713, 721, 723, and 742

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 12 - BANKS AND BANKING

§ 1756 - Reports and examinations

§ 1757 - Powers

12 USC § 1757a - Limitation on member business loans

§ 1785 - Requirements governing insured credit unions

§ 1789 - Administrative provisions

Title 12 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 723 after this date.

  • 2012-05-31; vol. 77 # 105 - Thursday, May 31, 2012
    1. 77 FR 31981 - Eligible Obligations, Charitable Contributions, Nonmember Deposits, Fixed Assets, Investments, Fidelity Bonds, Incidental Powers, Member Business Loans, and Regulatory Flexibility Program
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule and interim final rule with comment period.
      Effective dates: The final rule, as well as the interim final rule pertaining to the revisions in the fidelity bond rule, § 713.6, will go into effect on July 2, 2012. Comment date: We will consider comments on the interim final rule portion (the fidelity bond rule, § 713.6), as discussed in section IV of the preamble of this rulemaking. Send your comments to reach us on or before July 30, 2012. We may not consider comments received after the above date in making any decision whether to amend the interim final rule.
      12 CFR Parts 701, 703, 713, 721, 723, and 742