Lending limits to a person or connected persons
 73. (1) Subject to subsections (2), (3) and (6), a credit union may make a loan to a person if, as a result of making the loan, the total amount of all outstanding loans made to the person and any connected persons would not exceed 25 per cent of the credit union’s regulatory capital. (2) If the person to whom the loan is to be made is listed in clause 67 (c), (d) or (e), the credit union may make the loan if, as a result of making the loan, the total amount of all outstanding loans made to the person and any connected persons would not exceed 50 per cent of the credit union’s regulatory capital. (3) If the person to whom the loan is made is listed in clause 67 (a) or (b), the lending limit set out in subsection (1) does not apply. (4) For the purposes of this section, the total amount of all outstanding loans made by a credit union to a person and any connected persons excludes the portion, if any, of a loan that, (a) is insured under the National Housing Act (Canada) or by an insurer licensed to undertake mortgage insurance; (b) is guaranteed by, (i) a federal, provincial or territorial government of Canada, (ii) an agent of a government described in subclause (i), or (iii) the Authority; or (c) is secured by deposits of the borrower with the credit union. (5) For the purposes of this section, changing the terms and conditions of a loan or refinancing a loan in any other way shall be deemed to be making a loan. (6) A credit union may adopt the following rules as part of its investment and lending policies under section 153 of the Act: 1. The credit union may make a bridge loan or a residential mortgage loan if, i. the credit union’s total assets, as set out in the audited financial statements of the credit union that were placed before its members at the most recent annual meeting, are described in a row in Column 1 of the Table to this section, and ii. as a result of making the loan, the total amount of all outstanding loans made by the credit union to the person and any connected persons would not exceed the amount of the total lending limit set out in the same row of Column 2 of the Table to this section. 2. The credit union may make a loan to a person listed in clause 67 (f) or (g) if, i. the credit union’s total assets, as set out in the audited financial statements of the credit union that were placed before its members at the most recent annual meeting, are described in one of row 1, 2, 3, 4, 5 or 6 in Column 1 of the Table to this section, and ii. as a result of making the loan, the total amount of all outstanding institutional loans made by the credit union to the person and any connected persons would not exceed 50 per cent of the amount of the total lending limit set out in the same row of Column 2 of the Table to this section. Table   Lending Limits to a person or connected persons  Item   Column 1   Total assets of credit union   Column 2   Total lending limit to a person or connected persons 

  1.   Less than $500,000   Greater of 100% of regulatory capital and $60,000 

  2.   $500,000 or more but less than $1 million    Greater of 100% of regulatory capital and $100,000 

  3.   $1 million or more but less than $2 million   Greater of 80% of regulatory capital and $125,000 

  4.   $2 million or more but less than $3 million   Greater of 80% of regulatory capital and $155,000 

  5.   $3 million or more but less than $5 million   Greater of 70% of regulatory capital and $185,000 

  6.   $5 million or more but less than $10 million   Greater of 60% of regulatory capital and $235,000 

  7.   $10 million or more but less than $20 million   Greater of 50% of regulatory capital and $295,000 

  8.   $20 million or more but less than $30 million   Greater of 40% of regulatory capital and $345,000 

  9.   $30 million or more but less than $50 million   Greater of 30% of regulatory capital and $400,000