Rule 1301:9-2-27 | Interest rebate.
The board of directors may authorize the payment of an interest rebate on loan accounts, upon reasonable terms, if:
(A) The board of directors authorizes the method of computation, payment and qualifications for participation in such rebate; and
(B) Any rebate of interest is recorded as a reduction of the loan interest for the accounting period to which it applies.
Last updated July 8, 2024 at 8:57 AM
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