N.Y. Comp. Codes R. & Regs. tit. 3 § 4.5

Current through Register Vol. 46, No. 38, September 18, 2024

Section 4.5 - Interest rate applicable to subsequent advances

Where an agreement with the borrower provides that the lender shall advance funds from time to time, the maximum rate of interest applicable to each advance shall be the maximum rate of interest authorized by law at the time the first advance was made.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 4.5