3 CRR-NY 77.4NY-CRR
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
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