Rule 1301:9-2-27 | Interest rebate.
The board of directors may authorize the payment of an interest rebate on loan accounts upon such reasonable terms as are consistent with the following provisions:
(A) The board of directors shall authorize the method of computation, payment and qualifications for participation in such rebate; and
(B) Any rebate of interest shall be recorded as a reduction of the loan interest for the accounting period to which it applies.
Supplemental Information
Authorized By:
–
Amplifies: –
Five Year Review Date:
Amplifies: –
Five Year Review Date: