MBL (NCUA) – The rule replaces the prescriptive requirements and limitations, such as collateral and security requirements, equity requirements, and loan limits with a broad principles-based regulatory approach.   The effective date for Section 723.5(b) of the rule, concerning personal guarantees, is May 13, 2016.  All other provisions of the rule are effective on January 1, 2017.   The final rule is available here.