4 N.C. Admin. Code 6C.0603

Current through Register Vol. 39, No. 9, November 1, 2024

Section 06C .0603 - INTEREST REBATES

The Board of directors may authorize the payment of an interest rebate on loan accounts upon such reasonable terms as are consistent with the following provisions:

(1) The Board of directors shall authorize the method of computation, payment and qualifications for participation in such rebate.

(2) Any rebate of interest shall be recorded as a reduction of loan interest for the accounting period to which it applies.

04 N.C. Admin. Code 06C .0603

Authority G.S. 54-109.12; 54-109.44(3);
Eff. February 1, 1976;
Readopted Eff. April 4, 1978;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.

Authority G.S. 54-109.12; 54-109.44(3);
Eff. February 1, 1976;
Readopted Eff. April 4, 1978.