La. Admin. Code tit. 32 § VII-1105
Current through Register Vol. 50, No. 9, September 20, 2024
Section VII-1105 - Repayment of LoanA. Each loan shall mature and be payable, in full and with interest, within five years from the date such loan is made, unless: 1. the loan is used to acquire any dwelling unit that within a reasonable time (determined at the time the loan is made) will be used as the principal residence of the participant; or2. loan repayments are, at the employer's election, suspended as permitted by IRC §414(u)(4) (with respect to qualified military service).La. Admin. Code tit. 32, § VII-1105
Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 28:1500 (June 2002).AUTHORITY NOTE: Promulgated in accordance with R.S. §42:1301-1308 and IRC §457.