{"data":{"id":"us/12-cfr-23.3","jurisdiction":"us","citation":"12 CFR 23.3","heading":"Lease requirements.","body":"(a) General requirements. A national bank may acquire personal property for the purpose of, or in connection with leasing that property, and may engage in activities incidental thereto, if the lease qualifies as a full-payout lease and a net lease.\n(b) Exceptions—(1) Change in condition. If, in good faith, a national bank believes that there has been a change in condition that threatens its financial position by increasing its exposure to loss, then the bank may:\n(i) Take reasonable and appropriate action, including the actions specified in § 23.2(f), to salvage or protect the value of the leased property or its interests arising under the lease; and\n(ii) Acquire or perfect title to the leased property pursuant to any existing rights.\n(2) Provisions to protect the bank's interests. A national bank may include any provision in a lease, or make any additional agreement, to protect its financial position or investment in the event of a change in conditions that would increase its exposure to loss.\n(3) Arranging for services by a third party. A national bank may arrange for a third party to provide any of the services enumerated in § 23.2(f) to the lessee at the expense of the lessee.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 23—LEASING","Subpart A—General Provisions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"3c55749cfb9446839f6fae1cbedd185ed62eeb8de4e317b00391cd10e66af69f","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-23.2","next":"us/12-cfr-23.4"},"notice":"GroundRules: Original legal text. Not legal advice."}