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Question: The bank is planning to have a booth at an upcoming boat and RV show. Any regulatory issues to remember?
Answer: Yes! This is a good place to engage in "loan production," which does NOT require any prior approval by regulators. Be sure that you don't approve and fund loans, however. That would create a "branch." Also, any dealer paper generated by boat and RV dealers will need to comply with the requirements of the Business & Commerce Code giving the consumer a three day cooling off period as well as chapter 345 of the Finance Code.
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