45.42 Veterans personal loans.

151 words·~1 min read·/wi/chapter-45/45-42

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)It is determined that the loan program established under this section is a special purpose credit program for an economically disadvantaged class of persons for purposes of 15 USC 1691-1691f .

(2)The department may lend a veteran, a veteran’s unremarried surviving spouse, or a deceased veteran’s child not more than $25,000, or a lesser amount established by the department under sub.

(9). The department may prescribe loan conditions, but the term of the loan may not exceed 10 years, or a shorter term established by the department under sub.

(12). The department shall ensure that the proceeds of any loan made under this section shall first be applied to pay any delinquent child support or maintenance payments owed by the person receiving the loan and then to pay any past support, medical expenses, or birth expenses owed by the person receiving the loan.