Mich. Admin. Code R. 390.1630

Current through Vol. 24-19, November 1, 2024

Section R. 390.1630 - Loan disbursement

Rule 10.

(1) Loan proceeds shall not be disbursed more than 1 month before the start of the loan period as specified on the application.

(2) Loans may be disbursed after the loan period has expired if authorized by the authority.

(3) The interest and reserve fee, if applicable, shall be refunded if the disbursed funds are returned to the authority within 30 days of the date of the disbursement.

Mich. Admin. Code R. 390.1630

1990 AACS; 1995 AACS; 1998-2000 AACS