North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 06 - CREDIT UNION DIVISION
Subchapter C - CREDIT UNIONS
Section .0600 - DIVIDENDS: DEPOSITS AND INTEREST REBATE
Section 06C .0603 - INTEREST REBATES

Universal Citation: 04 NC Admin Code 06C .0603

Current through Register Vol. 39, No. 6, September 16, 2024

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:

(1) The Board of directors shall authorize the method of computation, payment and qualifications for participation in such rebate.

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

Authority G.S. 54-109.12; 54-109.44(3);
Eff. February 1, 1976;
Readopted Eff. April 4, 1978;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.

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