Utah Admin. Code R337-4-8 - Purchase and Sale of Loans and Participations in Loans
(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.
Notes
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