Wisconsin Statutes 238.124 – Loan limitations
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 238.124
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1) The corporation may not originate any loan that is forgivable in whole or in part upon the loan recipient’s achievement of one or more conditions or goals.
(2) Each new lending program the corporation implements or administers shall adhere as closely as practicable to commonly accepted commercial lending practices. The corporation shall adopt policies and procedures implementing this subsection.