NCUA regulation § 723.10, State regulation of business lending states that federally insured, state-chartered credit unions are exempt from complying with part 723, Member Business Loans; Commercial Lending if the state supervisory authority administers a state commercial and member business loan rule, provided the state rule covers all the provisions in part 723 and is no less restrictive than the federal rule (as determined by the NCUA).
Existing approved state rules are grandfathered and will retain the NCUA approval. An SSA may continue to administer grandfathered rules in their current format, and FISCUs in such states will continue to be exempt from part 723.
Any amendment or modification to an existing NCUA-approved state rule must be consistent with part 723 and approved by the NCUA Board. A modification of one part of an existing NCUA-approved state rule will not cause other parts of a state rule to lose their grandfathered status.
Grandfathered NCUA-Approved State Rules (pre-January 2017)
| State | Rule | NCUA Board Approval |
|---|---|---|
| Texas | 7 TEX.ADMIN. CODE § 91.709 | December 15, 2016 |
| Oregon | OR. ADMIN. R. § 441-720-0300, et seq | June 20, 2002 |
| Connecticut | CONN.GEN.STAT. § 36a-458a | March 14, 2002 |
| Wisconsin | WIS. ADMIN. CODE § 72.01-.18 | February 7, 2002 |
| Maryland | MD. REGS. CODE tit. 9, § 09.03.01.14 | November 15, 2001 |
| Washington | WASH. ADMIN. CODE § 208-460-010, et. seq. | January 18, 2001 |
NCUA-Approved State Rules (post-January 2017)
None as of August 14, 2018.
NCUA-Approved Modified State Rules (post-January 2017)
| State | Rule | NCUA Board Approval |
|---|---|---|
| Illinois | IL Admin Code §190.165 | April 20, 2017 |
- Illinois: (NCUA Board Approval- June 20, 2013)
NCUA-Approved Modified State Rules with a Grandfathered Provision (post-January 2017)
None as of August 14, 2018.
Last updated August 14, 2018
