New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 3. Banking |
Chapter I. General Regulations of the Superintendent |
Part 4. Superintendent’s Regulations: Maximum Interest Rate on Certain Loans |
Sec. 4.5. Interest rate applicable to subsequent advances
Latest version.
- Where an agreement with the borrower provides that the lender shall advance funds from time to time, the maximum rate of interest applicable to each advance shall be the maximum rate of interest authorized by law at the time the first advance was made.