§ 5-207. Loan -- Documents

Latest version.

   (a) Preparation by Department. -- The Department shall prepare the loan documents for loans under this subtitle.

(b) Contents. -- The loan documents shall include:

   (1) the interest rate on the loan;

   (2) the amount of the loan;

   (3) repayment provisions for the loan; and

   (4) any other provision that the Department determines is necessary, including a provision on taking liens and security interests in real or personal property.

HISTORY: An. Code 1957, art. 83A, § 6-509(b), (c)(1)-(4); 2008, ch. 306, § 2.

                    
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