SENIOR LENDING OFFICER Sample Clauses

SENIOR LENDING OFFICER. (1) Within sixty (60) days of the date of this Agreement, the Board shall identify, and submit for supervisory review, a capable Senior Lending Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the Senior Lending Officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board’s reasons for selecting the proposed officer; and (c) a written description of the proposed officer’s duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the individual. However, the lack of disapproval of an individual shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his/her review and act on any such information or authority within ninety (90) days.
Sample 1
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SENIOR LENDING OFFICER. (1) Within ninety (90) days, the Board shall appoint a capable, full-time and permanent senior lending officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. (2) Prior to the appointment of any individual to the senior lending officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Corporate Manual, dated April 1998, for the proposed individual; (b) a written statement of the Board's reasons for selecting the proposed individual; and (c) a written description of the proposed individual's duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power of veto over the employment of the proposed senior lending officer. However, the failure to exercise such veto power shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller to complete his review and act on any such information or authority within ninety (90) days.
Sample 1
SENIOR LENDING OFFICER. (1) Within ninety (90) days, the Board shall appoint a new, capable Senior Lending Officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the lending area. (1) Adjusted total assets is defined in 12 C.F.R. § 3.2(a) as the average total asset figure used for Call Report purposes minus end-of-quarter intangible assets. (2) Prior to the appointment of any individual to the Senior Lending Officer position, the Board shall submit to the Assistant Deputy Comptroller the following information: (a) the information sought in the “Changes in Directors and Senior Executive Officers” and “Background Investigations” booklets of the Comptroller’s Licensing Manual, together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board’s reasons for selecting the proposed officer; and (c) a written description of the proposed officer’s duties and responsibilities. (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed new senior executive officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement of the proposed director. (4) The requirement to submit information and the prior disapproval provisions of this Article are based on the authority of 12 U.S.C. § 1818(b) and do not require the Comptroller or the Assistant Deputy Comptroller to complete his review and act on any such information or authority within ninety (90) days.
Sample 1
SENIOR LENDING OFFICER. (1) Within one hundred twenty (120) days, the Board shall appoint a capable senior lending officer who shall be vested with sufficient executive authority to ensure the Bank s compliance with this Agreement and the safe and sound operation of the Bank s lending function. (2) Prior to the appointment of any individual to the senior lending officer position, the Board shall submit to the Deputy Comptroller the following information: (a) the information sought in the "Changes in Directors and Senior Executive Officers" booklet of the Comptroller s Corporate Manual together with a legible fingerprint card for the proposed individual; (b) a written statement of the Board s reasons for selecting the proposed officer; and (c) a written description of the proposed officer s duties and responsibilities. (3) The Deputy Comptroller shall have the power of veto over the employment of the proposed senior lending officer. However, the failure to exercise such veto power shall not constitute an approval or endorsement of the proposed officer. (4) The requirement to submit information and the prior veto provisions of this Article are based on the authority of 12 U.S.C. 1818(b) and do not require the Comptroller to complete his review and act on any such information or authority within ninety (90) days.
Sample 1
SENIOR LENDING OFFICER. (1) Within one hundred and fifty (150) days of this Agreement, the Board shall identify a qualified and capable candidate for Senior Lending Officer of the Bank, and submit the information required by Paragraph (2) of this Article to the Assistant Deputy Comptroller for appropriate review. The candidate shall be employed and vested with sufficient authority to fulfill the duties and responsibilities of the position and ensure the safe and sound operation of the Bank. If the Board is unable to appoint a qualified candidate within the time frame set forth above, the Board shall provide documentation of its efforts to locate such a candidate to the Assistant Deputy Comptroller. Thereafter, the Board shall provide quarterly reports to the Assistant Deputy Comptroller summarizing its continuing efforts to locate such candidates. (2) Prior to appointing a Senior Lending Officer, the Bank must provide the Assistant Deputy Comptroller with written notice as required by 12 C.F.R. § 5.51 (notice forms and instructions in the “Changes in Directors and Senior Executive Officers” and “Background Investigations” booklets of the Comptroller’s Licensing Manual). (3) The Assistant Deputy Comptroller shall have the power to disapprove the appointment of the proposed new officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement of the proposed officer. (4) Within forty five (45) days of the receipt of a notice of intent not to disapprove the proposed Senior Loan Officer, the Senior Loan Officer shall develop and/or implement an Action Plan regarding how the Bank will achieve compliance with Articles VI through Articles XI of this Agreement. The Action Plan shall be submitted to the Board upon completion. (5) The Bank shall submit the Action Plan required pursuant to this Article to the Assistant Deputy Comptroller for review and determination of no supervisory objection. (6) In the event the Assistant Deputy Comptroller asks the Bank to revise the Action Plan, the Bank shall immediately make the requested revisions and resubmit the Action Plan to the Assistant Deputy Comptroller. Following implementation, the Bank shall not take any action that will cause a significant deviation from, or material change to the Action Plan unless and until the Bank has received a prior written determination of no supervisory objection from the Assistant Deputy Comptroller.
Sample 1
SENIOR LENDING OFFICER. (1) Within ninety (90) days, the Board shall appoint a capable senior lending officer who shall be vested with sufficient executive authority to fulfill the duties and responsibilities of the position and ensure the safe and sound administration of the loan portfolio. (2) Prior to the appointment of any individual to the senior lending officer position, the Board shall provide the Assistant Deputy Comptroller with written notice as required by 12 C.F.R. § 5.51 using notice forms and following the instructions in the “Changes in Directors and Senior Executive Officers Booklet” of the Comptroller’s Licensing Manual. (3) In addition to the information required to be provided pursuant to paragraph (2) of this Article, the Board shall submit to the Assistant Deputy Comptroller: (a) a written statement of the Board's reasons for selecting the proposed senior lending officer; and (b) a written description of the proposed senior lending officer's duties and responsibilities. (4) The Assistant Deputy Comptroller shall have the power to disapprove the employment of the proposed senior lending officer. However, the lack of disapproval of such individual shall not constitute an approval or endorsement of the proposed officer.
Sample 1

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