8 Va. Admin. Code § 20-100-140

Current through Register Vol. 41, No. 3, September 23, 2024

Section 8VAC20-100-140 - Determination of interest rate

The interest rate for a loan generally shall be determined on the basis of a composite index of the applying school division as follows:

Per Annum Interest Rate
Step 1.	Composite Index between .2 and .2999	2.0%
Step 2.	Composite Index between .3 and .3999	3.0%
Step 3.	Composite Index between .4 and .4999	4.0%
Step 4.	Composite Index between .5 and .5999	5.0%
Step 5.	Composite Index between .6 and .8000	6.0%

8 Va. Admin. Code § 20-100-140

Derived from VR270-01-0009 § 6.2, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

Statutory Authority

Article VIII, §8 of the Constitution of Virginia; §§ 22.1-140 and 22.1-142 et seq. of the Code of Virginia.