1301:9-2-27. Interest rebate

Latest version.

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:

(A) The board of directors shall authorize the method of computation, payment and qualifications for participation in such rebate; and

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

Five Year Review (FYR) Dates: 9/10/2018 and 09/08/2023
Promulgated Under: 119.03
Statutory Authority: 1733.41
Rule Amplifies: 1733.25
Prior Effective Dates: 8/3/93

Prior History: (R.C. 119.032 review dates: 12/29/2011 and 12/29/2016
Promulgated Under: 119.03
Statutory Authority: 1733.41
Rule Amplifies: 1733.25
Prior Effective Dates: 8/3/93 )

                    
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