PPP Procedural Notice Change in Ownership Summary
This tool summarizes the requirements for change of ownership of PPP borrowers, issued October 2, 2020. For purposes of the PPP, a change of ownership occurs if i) at least 20% of the outstanding equity interest of a borrower is sold or otherwise transferred in one or more transactions, including to an affiliate or an existing equity holder of the borrower; ii) at least 50% of the assets (measured in fair market value) are transferred by a borrower; or iii) a borrower is merged into another entity.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.