3 Colo. Code Regs. § 703-3-4.4

Current through Register Vol. 47, No. 22, November 25, 2024

Section 3 CCR 703-3-4.4 - Sale of Loans

In accordance with C.R.S. 11-30-104(1)(k), and without further approval by the Commissioner, a credit union may sell, in whole or in part, to any party, a loan or group of loans to its members, provided it complies with the following conditions:

(a) The credit union's board of directors has adopted written policies that authorize such loan sales.

(b) The credit union retains a written agreement and a schedule of the loans sold pursuant to the agreement. C.R.S. 11-30-104(1)(k)

3 CCR 703-3-4.4

39 CR 15, August 10, 2016, effective 9/1/2016