Pre-existing Loans

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March 10, 2014 at 9:06 am EDT #5571

Anonymous
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Do pre-existing loans have to be modified to include the Reg O language of a demand clause if an individual becomes an Executive Officer?
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March 10, 2014 at 1:42 pm EDT #5574

rcooper
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You do not need to go back and add a demand clauses to existing loans. This would be for extensions of credit after they became an EO.
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