(A) The aggregate amount of all loans from the fund to a participant shall in no event exceed the smallest of:
(1) Fifty thousand dollars;
(2) The balance in the participant’s salary deferral contribution account; or
(3) Fifty percent of the balance in the participant’s salary deferral contribution account, but not less than $10,000.
(B) Such limitations shall be adjusted to reflect loans to such participant from all other qualified plans maintained by the employer.
(Ord. MET 86-13, passed 5-30-1986)