# 12 C.F.R. § 714.7 (2026): What are the insurance requirements applicable to leasing?

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_7

## Section

- **Citation:** 12 C.F.R. § 714.7 (2026)
- **Heading:** What are the insurance requirements applicable to leasing?
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter VII: NATIONAL CREDIT UNION ADMINISTRATION / Part 714: LEASING / § 714.7: § 714.7   What are the insurance requirements applicable to leasing?

## Text

(a) You must maintain a contingent liability insurance policy with an endorsement for leasing or be named as the co-insured if you do not own the leased property. Contingent liability insurance protects you should you be sued as the owner of the leased property. You must use an insurance company with a nationally recognized industry rating of at least a B + .
(b) Your member must carry the normal liability and property insurance on the leased property. You must be named as an additional insured on the liability insurance policy and as the loss payee on the property insurance policy.

## Nearby sections

- [12 C.F.R. § 714.1 (2026) § 714.1   What does this part cover?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_1.md)
- [12 C.F.R. § 714.2 (2026) § 714.2   What are the permissible leasing arrangements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_2.md)
- [12 C.F.R. § 714.3 (2026) § 714.3   Must you own the leased property in an indirect leasing arrangement?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_3.md)
- [12 C.F.R. § 714.4 (2026) § 714.4   What are the lease requirements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_4.md)
- [12 C.F.R. § 714.5 (2026) § 714.5   What is required if you rely on an estimated residual value greater than 25% of the original cost of the leased property?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_5.md)
- [12 C.F.R. § 714.6 (2026) § 714.6   Are you required to retain salvage powers over the leased property?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_6.md)
- [12 C.F.R. § 714.7 (2026) § 714.7   What are the insurance requirements applicable to leasing?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_7.md)
- [12 C.F.R. § 714.8 (2026) § 714.8   Are the early payment provisions, or interest rate provisions, applicable in leasing arrangements?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_8.md)
- [12 C.F.R. § 714.10 (2026) § 714.10   What other laws must you comply with when engaged in leasing?](https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_10.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P714_S714_7. Check the current official text before relying on it. Not legal advice.