TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 355 STATUTORY BAD DEBTS
SECTION 355.30 PLAN FOR COLLECTION


 

Section 355.30  Plan for Collection

 

            A bank must have a written plan for collection of a debt setting forth the following:

 

a)         the reason for the selected method of collection;

 

b)         the procedures the bank must follow to effect the collection; and

 

c)         the expected date of repayment of the debt.