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 Section 9.04 specifically incorporates a written loan policy as part of the Employer's Plan.
LOAN POLICY. The 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. 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 . . . . . . . . . . . . . . . 1.03(i) (14.02) Maximum Permissible Amount . . . . . . . . . . . . . . 3.19(g) (3.08)
LOAN POLICY. In a Governmental Eligible 457 Plan, the Plan Administrator, in its sole discretion, may establish, amend or terminate from time to time, a nondiscriminatory 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 a written document and 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 5.02(A) is part of the Plan, except that the Plan Administrator may amend or terminate the policy without regard to Section 9.01.
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:
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: (i) the identity of the persons or positions authorized to administer the Participant loan program; (ii) a procedure for applying for a loan; (iii) the criteria used in approving or denying a loan; (iv) the limitations, if any, on the types and amounts of loans available; (v) the procedures used in determining a reasonable fixed rate of interest; (vi) the types of collateral that may secure the loan; and (vii) the events constituting default and the steps the Plan will take to preserve Plan assets in the event of default.
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. Defined Contribution Prototype and Volume Submitter Plan
LOAN POLICY. Loans are granted in accordance with the loan policy, the basic requirements of which are: -
LOAN POLICY. From the date hereof through the Effective Time, none of Old Florida and its Subsidiaries will 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 OFB 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, Old Florida shall provide Bancshares a calendar of any Board or committee meetings of OFB at which the Board or any committee will vote on proposed new or renewal loans or investments. Old Florida and OFB will allow a representative of Bancshares or BOF to be present at all such meetings for informational purposes only and such representative shall not take part in discussions or voting on any matters presented at such meetings.
