[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1655.12]

[Page 297]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1655_LOAN PROGRAM--Table of Contents
 
Sec. 1655.12  Loan agreement.

    (a) Upon determining that a loan application meets the requirements 
of this part, the TSP record keeper will provide the participant with 
the terms and conditions of the loan, as follows:
    (1) If the participant submits a paper loan application, the TSP 
record keeper will mail the loan agreement, and other information as 
appropriate, to the participant.
    (2) If the participant initiates a loan request on the TSP Web site, 
which cannot be completed on the Web site, the participant must print 
the partially completed loan agreement directly from the Web site, 
provide any missing information (including spouse's signature or 
documents supporting a residential loan request, if applicable), and 
submit it to the TSP record keeper.
    (b) By signing the loan agreement, either electronically or on the 
form, the participant agrees to be bound by all of its terms and 
conditions, agrees to repay the loan by payroll deduction, and 
certifies, under penalty of perjury, to the truth and completeness of 
all statements made in the loan application and loan agreement to the 
best of his or her knowledge.
    (c) For loans submitted on paper and those that cannot be completed 
on the TSP Web site, the TSP record keeper must receive the completed 
loan agreement (including any required supporting documentation) before 
the expiration date stated on the loan agreement or the agreement will 
not be processed.
    (d) The signed loan agreement must be accompanied by:
    (1) In the case of a residential loan, supporting materials that 
document the purchase or construction of the residence and the amount 
requested (as described in Sec. 1655.20); and
    (2) Any other information that the Executive Director may require.
    (e) A participant may request that the loan be disbursed by direct 
deposit to a checking or savings account maintained by the participant 
in a financial institution by properly completing the required 
information on the loan agreement or on the TSP Web site, if the loan 
request can be completed on the Web site.

[68 FR 35515, June 13, 2003, as amended at 70 FR 32218, June 1, 2005]