|
|
Loan fund board may authorize any loan society to advance any portion of their funds in loans not exceeding 10l, bearing interest, and repayable by instalments.
|
28. It shall be lawful for the said loan fund board, if they shall see fit, to authorize any loan society to advance any portion of their funds, such portion to be limited by the said board, in loans not exceeding ten pounds, at a rate of interest not exceeding one penny halfpenny per month upon each pound sterling so advanced; provided that there be an interval of not less than twenty-seven days between the time of issuing such loan and the payment of the first instalment, and a similar period at the least between each other payment; and such society shall make a separate report of such loans to the said loan fund board.
|
