89-4

September 28, 1989

Re: Legal Lending Limits — General Partnerships

Dear Mr. ________:

 This responds to your letter of September 11, 1989, and confirms our telephone conversation of September 25, 1989.

As we discussed, and pursuant to Financial Code Section 1220(d), all extensions of credit by your Bank to each general partner of a general partnership must be aggregated with all extensions of credit by your bank to the partnership to determine whether loans to the partnership exceed the applicable lending limits.

If you have any further questions, please do not hesitate to contact me at the San Francisco office of the State Banking Department.

Very truly yours.

JAMES E. GILLERAN
Superintendent of Banks

By

KENNETH SAYRE-PETERSON
Counsel

KSP:aea

cc: State Banking Department, Los Angeles