Wash. Admin. Code § 208-460-080 - How do you calculate the aggregate fifteen percent limit?
(1) Step 1. Calculate the numerator by adding
together the amount of the member business loans to the member and associated
members (if any). From this amount, subtract any portion:
(a) Secured by shares or deposits in the
credit union making the extension of credit or in other credit unions, or by
deposits in other financial institutions; or
(b) Insured or guaranteed, or subject to an
advance commitment to purchase, by any federal or state agency (or any
political subdivision of a state).
(2) Step 2. Divide the numerator by net
worth.
Notes
Statutory Authority: RCW 31.12.426(1), 31.12.516(2), 43.320.040. 01-10-084, § 208-460-080, filed 5/1/01, effective 6/1/01.
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