Section 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.Utah Admin. Code R337-5-2
Amended by Utah State Bulletin Number 2024-08, effective 4/9/2024