FROM: Richard S. Schulman, Associate General Counsel
SUBJ: Nonstandard Bylaw Amendment
(Your July 13, 1995, Memorandum)
DATE: July 25, 1995
The proposed nonstandard bylaw amendment presents no legal concerns. Safety and soundness issues concerning the change are in your discretion. Attached for your information is a copy of a similar nonstandard amendment approved by [redacted] for [redacted] on July 19, 1988.
Article XII. Loans to Members and Lines of Credit to Members
Section 7. Applications for loans or lines of credit shall be on approved forms and shall in each case set forth the security, if any, and such other data as may be required by the committee or by applicable law and regulations.
Approved for [redacted] on July 19, 1988, by [redacted].