New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5004 - Loans
Section 5004.7 - Charges

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 5004.7

Current through Register Vol. 46, No. 12, March 20, 2024

(a) The service charge on each loan issued shall be $30.

(b) The service charge fund shall be the fund established to administer service charges.

(c) A loan payment shall be considered delinquent when it is 10 days past due and for each such payment a $10 charge shall be added to the loan. A loan payment must be paid in full in order not to be considered delinquent.

(d) A charge of $20 shall be made for each dishonored check sent in payment of a loan.

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