Utah Admin. Code R337-5-2 - Definitions
(1) "Adjusted Loss" means the historical loss
adjusted for economic or other factors.
(2) "Historical Loss" means the ratio of loan
losses (actual losses less recoveries) to the average total loans outstanding
for the period.
(3) "Homogeneous
Loan Pools" means groups of loans sharing common risk factors.
(4) "In process of collection" means
collection of the debt is proceeding in due course either through legal action,
including judgment enforcement procedures, or, in appropriate circumstances,
through collection efforts not involving legal action which are reasonably
expected to result in repayment of the debt or in its restoration to a current
status in the near future.
(5)
"Well secured" means a debt that is secured by:
(a) collateral with sufficient realizable
value to discharge the debt in full, including accrued interest; or
(b) the guarantee of a financially
responsible party.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.