§ 17-6-346

17-6-346. Interest rates and repayment of intermediary loan -- terms. (1) The interest rate on an intermediary loan made pursuant to 17-6-345 may not exceed 2% a year for a period of 30 years. (2) For the first 3 years, repayment on the intermediary loan is of the interest only, and for the remainder of the term of the intermediary loan, the repayment is principal and interest. History: En. Sec. 2, Ch. 183, L. 2003.