Common use of Loan Administration Clause in Contracts

Loan Administration. Contractor will provide all services associated with the administration of a participant loan program for general purpose and residential loans from the Plans for which the County elects to offer loans. Loan administration shall be conducted in accordance with the applicable Plan document and the loan policies drafted by the Contractor and approved by the County, to include loan repayments by terminated participants via coupon processing.

Loan Administration. Contractor will provide all services associated with the administration of a participant loan program for general purpose and residential loans from the Plans for which the County elects to offer loans. Loan administration shall be conducted in accordance with the applicable Plan document and the loan policies drafted by the Contractor and approved by the County, to include loan repayments by payroll deductions for active employees, with optional ACH or coupon processing for employees on unpaid leaves of absence, and via ACH or coupon processing for terminated participants via coupon processingparticipants.