It is an extension of credit will be deemed to be made to an insider if the proceeds are transferred to the insider or used for the insider's benefit. This rule does not apply if the credit is made on substantially the same terms and conditions as those made to a non- insider and if the proceeds are used in a bona fide transaction involving the acquisition of property, goods, or services from the insider. What is it?
- Tangible economic benefit rule012 CFR 215.3(f)
- Extension of credit-12 CFR 215.3
- Lending restrictions
- Intangible economic-benefit rule
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