N.Y. Comp. Codes R. & Regs. tit. 21 § 5004.11

Current through Register Vol. 46, No. 51, December 18, 2024

Section 5004.11 - Executive director's authority

(a) The executive director shall be authorized to approve all loans provided that such loans are made in conformity with the statute and rules and regulations.

(b) The executive director is authorized, in case of extreme hardship to the member, to waive the failure to make payment on any loan for a period of three months in addition to the three-month period allowed before default, which period, however, may not extend beyond the end of the quarter following the quarter in which the unpaid installment was due.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 5004.11