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2008 SESSION
(SB797)GOVERNOR'S RECOMMENDATION
1. Line 18, enrolled, after instrument.
insert
For purposes of determining the yield on United States Treasury securities, the yield used shall be the yield in effect on the date the loan was originated. If no yield was in effect for the applicable maturity on that date, the yield for the next closest maturity shall be used.
2. Line 19, enrolled, after maturities,
strike
the interest rate of the loan will be compared with the yield for the Treasury securities having a lower yield.
insert
the maturity having a lower yield shall be used.