N.Y. Comp. Codes R. & Regs. tit. 21 § 5004.2

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

Section 5004.2 - Additional eligibility requirements for members with a date of membership before July 27, 1976 (Tiers I and II)

(a) Members must not have previously received a loan during the semi-annual period (January 1st-June 30th or July 1st-December 31st (as applicable) in which the loan is to be issued. A member must apply by June 15th in order to assure the loan is issued by June 30th and must apply by December 15th in order to assure the loan is issued by December 31st.

(b) A loan shall be at least $300 and, together with any outstanding loan balance, shall not exceed 75 percent of the member's accumulated contributions.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 5004.2