901:3-63-08 Payment schedules.

(A) The maximum term for the guaranteed portion of any loan made under the family farm loan program shall be ten years, not to exceed the term of the non-guaranteed portion of the loan if the term of the non-guaranteed portion is below ten years.

(B) Lending institutions shall blend all interest rates, fees and charges to effect a single monthly payment schedule for a borrower under the FFLP.

(C) All payment schedules and amortization tables related to loans made under the FFLP shall both cause and reflect repayment of the guaranteed portion of any FFLP loan according to the provisions of paragraph (A) of this rule.

R.C. 119.032 review dates: 08/13/2003 and 08/13/2008

Promulgated Under: 119.03

Statutory Authority: 901.82

Rule Amplifies: 122.011, 908.82, 901.83

Prior Effective Dates: 8/7/89