1. A. In no event shall any loan made to a participant be in an amount which shall cause the outstanding aggregate balance of all loans made to such participant under this plan exceed the lesser of:

   1. 1. $50,000, reduced by the excess (if any) of:

      1. a. the highest outstanding balance of loans from the plan to the participant during the one-year period ending on the day before the date on which the loan is made;
      2. b. over the outstanding balance of loans from the plan to the participant or the beneficiary on the date on which the loan is made; or
   2. 2. one-half of the participant's account balance.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 42:1301-1308 and IRC §457.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of the Treasury, Deferred Compensation Commission, LR 28:1500 (June 2002), amended LR 32:123 (January 2006).