LOAN POLICY. If the Advisory Committee adopts a loan policy, pursuant to paragraph (j), the loan policy must be a written document and must include:
(1) the identity of the person or positions authorized to administer the participant loan program; (2) a procedure for applying for the loan; (3) the criteria for approving or denying a loan; (4) the limitations, if any, on the types and amounts of loans available; (5) the procedure for determining a reasonable rate of interest; (6) the types of collateral which may secure the loan; and (7) the events constituting default and the steps the Plan will take to preserve plan assets in the event of default. This
LOAN POLICY. The Plan Administrator, at any time and in its sole discretion, may establish, amend or terminate a policy which the Trustee must observe in making Plan loans, if any, to Participants and to Beneficiaries. If the Plan Administrator adopts a loan policy, the loan policy must be nondiscriminatory and must be in writing. The policy must include:
(1) the identity of the person or positions authorized to administer the Participant loan program; (2) the procedure for applying for a loan; (3) the criteria for approving or denying a loan; (4) the limitations, if any, on the types and amounts of loans available; (5) the procedure for determining a reasonable rate of interest; (6) the types of collateral which may secure the loan; and (7) the events constituting default and the steps the Plan will take to preserve Plan assets in the event of default. A loan policy the Plan Administrator adopts under this Section 7.06(A) is part of the Plan, except that the Plan Administrator may amend or terminate the policy without regard to Section 11.02.
LOAN POLICY. The loan policy ("Loan Policy") shall be a written document setting forth the specific provisions for Participant loans, and is herein incorporated as part of the Plan by reference. A signed copy of the Loan Policy shall be kept on file by the Plan Administrator, and also shall be set forth in the Summary Plan Description for the Plan. The Loan Policy shall include (1) the identity of the person or position authorized to administer the Participant loan program; (2) a procedure for applying for loans; (3) the basis on which loans shall be approved or denied; (4) limitations (if any) on the types and amounts of loans offered; (5) the procedure under the program for determining a reasonable rate of interest; (6) the types of collateral which may secure a Participant loan; (7) the events constituting default and the steps that shall be taken to preserve Plan assets in the event of such default; and (8) all other information sufficient to apprise all possible borrowers of the scope and procedures of the loan program. Loans shall be available to Plan Participants on a nondiscriminatory basis without regard to any individual's race, color, religion, sex, age or national origin.
LOAN POLICY. 9.04(A) (9.02) Mandatory Contributions............................................................................14.04(A) (14.04) Mandatory Contributions Account................................................................... 14.04(A) (14.04) Master or Prototype Plan............................................................................ 3.19(f) (3.09) Matching Contributions.............................................................................14.03(i) (14.03) Maximum Permissible Amount.......................................................................... 3.19(g) (3.09)
LOAN POLICY. (1) Within sixty (60) days of the date of this Agreement, the Board shall make appropriate revisions to the Bank’s loan policy and procedures designed to correct the Bank’s deficiencies in credit underwriting, administration and risk management, to include at a minimum:
(a) maximum amortization periods for financing of speculative raw land, and developed commercial or residential lot loans held for investment;
(b) guidance on how to determine whether a loan is impaired under Financial Accounting Statement #114 and how to determine the amount of impairment;
(c) criteria for placing loans on nonaccrual status or removing loans from nonaccrual status that is consistent with current Call Report Glossary definition of nonaccrual loans;
(d) minimum expectations for guarantor financial analysis;
(e) minimum expectations for stress-testing land development loans and nonowner occupied Commercial Real Estate Loans; and
(f) clarification of real estate appraisal requirements to be consistent with 12 C.F.R. Part 34.
(2) After the Board has implemented these policy changes, the Board should immediately implement these changes and forward a copy to the Assistant Deputy Comptroller within thirty (30) days.
LOAN POLICY. The Committee shall establish a nondiscriminatory loan policy that must be observed in making loans to Participants. The loan policy must be a written document and must include: (1) the identity of the persons or positions authorized to administer the Participant loan program; (2) a procedure for applying for a loan; (3) the criteria used in approving or denying a loan; (4) the limitations, if any, on the types and amounts of loans available; (5) the procedures used in determining a reasonable fixed rate of interest; (6) the types of collateral that may secure the loan; and (7) the events constituting default and the steps the Plan will take to preserve Plan assets in the event of default.
LOAN POLICY. 9.04(A) (9.02) Mandatory Contributions . . . . . . . . . . . . . . . . . . . 14.04(A) (14.03) Mandatory Contributions Account . . . . . . . . . . . . . . . 14.04(A) (14.03) Master or Prototype Plan . . . . . . . . . . . . . . . . . . . 3.19(f) (3.08) Matching Contributions . . . . . . . . . . . . . . . . . . . 14.03(i) (14.02) Maximum Permissible Amount . . . . . . . . . . . . . . . . . . 3.19(g) (3.08) Minimum Distribution Incidental Benefit . . . . . . . . . . . . 6.02(A) (6.03)
LOAN POLICY. From the date hereof through the Effective Time, Bristol will not make any loans, or enter into any commitments to make loans, which vary other than in immaterial respects from its written loan policies, a true and correct copy of which loan policies has been provided to Bancshares, provided that this covenant shall not prohibit Bristol from extending or renewing credit or loans in the ordinary course of business consistent with past lending practices or in connection with the workout or renegotiation of loans currently in its loan portfolio. Concurrent with the execution of this Agreement, Bristol shall provide Bancshares a calendar of any Board or committee meetings of Bristol at which the Board or any committee will vote on proposed new or renewal loans or investments. Bristol will allow a representative of BOF to be present at all such meetings for informational purposes only and such BOF representative shall not take part in discussions or voting on any matters presented at such meetings.
LOAN POLICY. The following language, extracted from the Summary Plan Description, describes the Plan's Loan Policy:
LOAN POLICY. If the Plan Administrator adopts a loan policy, pursuant to subparagraph 10.02(j), the loan policy must be a written document and must include:
(a) the identity of the person or positions authorized to administer the Participant loan program; (b) a procedure for applying for the loan; (c) the criteria for approving or denying a loan; (d) the limitations, if any, on the types and amounts of loans available; (e) the procedure for determining a reasonable rate of interest; (f) the types of collateral which may secure the loan; and (g) the events constituting default and the steps the Plan will take to preserve Plan assets in the event of default. This