[Code of Federal Regulations]
[Title 38, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR11.102]

[Page 544]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 11_LOANS BY BANKS ON AND PAYMENT OF ADJUSTED SERVICE 
 
Sec. 11.102  Term of note.

    All loans will be for a period of one year and if not paid will be 
automatically extended from year to year for periods of one year in the 
amount of the principal plus interest accrued to the end of the 
immediately preceding expired loan year, which total amount shall 
automatically become a new principal each year provided a loan may be 
paid off at any time by the payment of principal and accrued interest, 
but in no event will interest accruing after September 30, 1931, be 
deducted in final settlement of a certificate except as provided in 
Sec. 11.93(b).