Guest yukon Posted February 3, 2004 Posted February 3, 2004 We're thinking about changing our loan procedures to stipulate that by signing the back of the loan check, the participant agrees to the terms of the Primissory Note. Don't know specifics of this type of procedure. Anyone have suggestions where I can look for examples?
Harwood Posted February 4, 2004 Posted February 4, 2004 This was on the back on my recent plan loan check: "By endorsing or cashing this check, I agree to repay the amount of this loan, plus interest, according to the terms and conditions of the Promissory Note and Security Agreement contained on both sides of the document attached to this check and according to the Participant Loan Authorization Agreement. I agree that my employer will deduct the amount of my loan repayments from my compensation."
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