S. 110 — Veterans Member Business Loan Act

This section revises the definition of member business loan under the Federal Credit Union Act (12 U.S.C. 1757a) to exclude any such loan made to a veteran (defined as in 38 U.S.C. 101), effective 180 days after enactment. (Thus, loans to veterans for commercial, corporate, business investment property, venture, or agricultural purposes do not count toward the aggregate limit of the lesser of 1.75 times actual net worth or 1.75 times the minimum net worth required to be well capitalized.)