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.
‹ Prev All Rhode Island sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.