New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 92 - Variable Rate Closed-end Retail Instalment Contracts And Obligations Entered Into By Retail Sellers
Section 92.5 - Generally accepted actuarial methods
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 92.5
Current through Register Vol. 46, No. 12, March 20, 2024
The term generally accepted actuarial method, as such term is used in sections 4 and 9 of chapter 641 of the Laws of 1984 shall not include any method which results or may result in the addition of unpaid credit service charge amounts to the outstanding principal indebtedness under the contract or obligation.
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