Section R20-4-519. Deferment Statement

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A licensee shall give the borrower a statement at the time a defer- ment is made, and shall retain a copy of the statement in the bor- rower’s credit file. The statement shall contain the following information:

1.        The amount of the deferral fee,

2.        The date of the borrower’s next scheduled payment,

3.        The amount of the borrower’s next scheduled payment, and

4.        The extended maturity date of the loan.

Historical Note

Former Rule 19. R20-4-519 recodified from R4-4-519 (Supp. 95-1). Amended by final rulemaking at 6 A.A.R.

4605, effective November 14, 2000 (Supp. 00-4).

                    
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