LAC 32:VII.1101. Authorization of Loans

A. The commission may direct the administrator to make loans to participants on or after the effective date of treasury regulations or other guidance under IRC §457 and to the extent allowable under and in accordance with IRC §457. Such loans shall be made on the application of the participant in a form approved by the administrator and on such terms and conditions as are set forth in this Chapter 11, provided, however, that the administrator may adopt rules or procedures specifying different loan terms and conditions, if necessary or desirable, to comply with or conform to such treasury regulations or other guidance and other applicable law.