N.Y. Comp. Codes R. & Regs. tit. 21 § 5004.3

Current through Register Vol. 46, No. 53, December 31, 2024

Section 5004.3 - Additional eligibility requirements for members with a date of membership on or after July 27, 1976 (Tiers III, IV and V)

(a) Members must not have previously received a loan during the calendar year (January 1st-December 31st) in which the loan is to be issued. A member must apply by December 15th in order to assure the loan is issued by December 31st.

(b) A loan shall be at least $1,000 and, together with any outstanding loan balance, shall not exceed 75 percent of the member's total contributions.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 5004.3