N.D. Admin. Code 54-04.1-03-02

Current through Supplement No. 395, January, 2025

Section 54-04.1-03-02 - Note required

Before the loan is disbursed, recipients and their board-approved cosigner must sign a note to the North Dakota board of nursing for repayment of the loan. Interest will accrue at the rate of nine percent per annum or the maximum contract rate of interest established under the provisions of North Dakota Century Code section 47-14-09, whichever is the lesser.

N.D. Admin Code 54-04.1-03-02

Effective October 1, 1987; amended effective March 1, 1992; January 1, 1994.

General Authority: NDCC 43-12.1-08

Law Implemented: NDCC 43-12.1-08(2)(h)