3 CRR-NY 77.4NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 3. BANKING
CHAPTER I. GENERAL REGULATIONS OF THE SUPERINTENDENT
PART 77. INVESTMENTS IN COMMERCIAL, CORPORATE AND BUSINESS LOANS BY SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS; LEASING TRANSACTIONS; LETTERS OF CREDIT
3 CRR-NY 77.4
3 CRR-NY 77.4
77.4 Participations.
A savings bank or savings and loan association may participate in and invest in any loan:
(a) which, if originated by another savings bank or savings and loan association, satisfies all the requirements of this Part; or
(b) which, if originated by any other lender, is made either:
(1) to a partnership, corporation or unincorporated association; or
(2) to a natural person for purposes other than personal, family or household use.
Any participation or investment made pursuant to the provisions of this section shall be deemed to be a commercial, corporate or business loan made by the participating institution for purposes of this Part. No authority to participate in letters of credit shall be deemed granted hereunder.
3 CRR-NY 77.4
Current through January 31, 2023
End of Document