N.J. Admin. Code § 17:2-4.4
Current through Register Vol. 56, No. 21, November 4, 2024
Interest will be calculated on a periodic basis on the unpaid loan balance. If scheduled payments are not paid timely, interest will be accrued and added to the remaining outstanding loan balance. If, at the end of the loan schedule, there is a balance of less than $ 50.00, it will be written off. If the balance is equal to or greater than $ 50.00, the member will be assessed.
N.J. Admin. Code § 17:2-4.4
See: 19 New Jersey Register 194(a), 19 New Jersey Register 2303(d).
Old rule was loan revaluation.
Amended by R.2005 d.75, effective 2/22/2005.
See: 36 New Jersey Register 4682(a), 37 New Jersey Register 619(b).
Substituted "$ 50.00" for "$ 10.00".