§ 40-14-7. Interest rates.
Interest rates for loans from the fund shall be established by the director; provided, however, that those rates shall be substantially lower than the prevailing rate of interest in this state for comparable loans, and shall not exceed five percent (5%). The term of the loan shall not exceed ten (10) years.
History of Section.P.L. 1988, ch. 611, § 1.
Structure Rhode Island General Laws
Chapter 40-14 - Equipment Loan Fund for People with Disabilities
Section 40-14-1. - Definitions.
Section 40-14-2. - Fund established.
Section 40-14-3. - Purpose of fund.
Section 40-14-4. - Eligibility.
Section 40-14-5. - Persons to whom available.
Section 40-14-6. - Maximum loan.
Section 40-14-7. - Interest rates.