Laws concerning the loans (Book IV)

004 Book IV – The loans and loan contracts
Article 1 – County loan agency

Art. 4.1.1.: The county loan agency shall be the body that reviews the loan requests that the county receives. The agency shall be led by a clerk under the Trade minister of the duchy. An assistant shall be assigned if the clerk requests it of the council.

Art. 4.1.2.: The Clerk is voted into office by a simple majority vote of the duchy council. The candidate must have a clean criminal record for the past 6 months in all English Duchies and Counties.

Art. 4.1.3.: The duties of the agency are:

i. Receive loan requests from the citizens of the duchy
ii. Evaluate if the applicant meets the minimum requirements
iii. Verify there are still funds available for that kind of loan
iv. Evaluate the amount of the loan request
v. Accept or refuse the loan
vi. Sign the contract between the duchy and the citizen
vii. Arrange the money to be delivered to the citizen
viii. Keep track of the loan and the payments thereof
ix. Collect the repayment installments
x. Have the power to fill a complaint to the Prosecutor in the name of the duchy if someone defaults on their loan.
xi. Keep an up to date list of the fields and shops needed by the different towns of Somerset. This information shall be provided by the mayors.

Article 2 – County loan for leveling up

Art. 4.2.1.: The county loan program for leveling up is open to any citizen of the duchy that has had no criminal record in the past 6 months in England.

Art. 4.2.2.: The funds for this category of loans are voted on by the council at the beginning of each council term.

Art. 4.2.3.: Any citizen can ask for this loan provided they can prove they meet the minimum requirements for it, and willingly supply all other information needed.

Art. 4.2.4.: The county loans for leveling up are open for any level. Each level has its own requirements and funding limit.

Art. 4.2.5.: The requirements for leveling up loan of level 0 to level 1 are

i. The citizen have the 5 reputation points (including 2 from the church) needed to level up
ii. The citizen possesses at least 40 pounds
iii. The citizen is willing to choose the field needed by their town.

The maximum of the loan is 50 pounds
The recipient has two weeks to repay the loan.

Art. 4.2.6.: The requirements for level up loan of level 1 to level 2 are

i. The citizen must have the reputation points to level up
ii. The citizen must have all the clothes needed to level up
iii. The citizen has at least 250 pounds
iv. The applicant needs to accept the town's choice of shop.

The maximum of this loan is 250 pounds

The recipient has one month to repay this type of loan.

Art. 4.2.7.: The requirements for level up loan of level 2 to level 3 are

i. The citizen must have the reputation points to level up
ii. The citizen must have the clothes needed to level up
iii. The citizen has at least 1000 pounds

The maximum of the loans is the balance of the sum needed for the citizen to level up.

The recipient has two months to repay the loan.

Article 3 – County loan for buying of second field

Art. 4.3.1.: The county loan for buying a second field is open to any citizen of the duchy that has had no criminal record in the past 6 months in England.

Art. 4.3.2.: The funds for this category of loan are voted upon by the council at the beginning of each council term term.

Art. 4.3.3.: Any citizen can ask for this loan provided they can prove they meet the minimum requirements for it, and willingly supply all the other information needed.

Art. 4.3.4.: The requirements for this type of loan are

i. Not living in capital (capital is 1 field max by person)
ii. Having at least 200 pounds
iii. Taking the type of field needed by the town

The maximum loan is 300 pounds

The recipient has 2 month to repay the loan.

Article 4 – County loan for ranchers

Art. 4.4.1.: The county loan for ranchers is open to any citizen of the duchy that has no criminal record in the past 6 months in England.

Art. 4.4.2.: The funds for this category of loan are voted upon by the council at the beginning of each council term term.

Art. 4.4.3.: Any citizen can ask for this loan provided they can prove they meet the minimum requirements for it, and willingly supply all the other information needed.

Art 4.4.4.: The requirements for this type of loan are

i. Be a rancher
ii. Showing that you don’t have enough money to have four animals in your field or not enough money to buy knife or bucket.
iii. Showing the events that portray your bad luck and explaining why you need that loan.
iv. Not been already had a loan for rancher

The maximum loan of this type is 250 pounds.

The recipient has two months to repay the loan.

Article 5 – General loan laws

Art 4.5.1.: The county doesn’t charge any interest on the loans.

Art.4.5.2: Citizen cannot accumulate loans, that is, a new loan may not be granted if a prior loan is still outstanding. The exception to this article is a loan provided for a rancher (see article 4 of book IV).

Art. 4.5.3.: The contract shall have legal standing. Defaulting on a county loan contract shall carry the same penalty as fraud. The sentence, if found guilty, shall be the repayment of the loan balance up to a 1000 pound fine.

Art. 4.5.4.: Should someone have trouble repaying the loan to the county, they shall ask any member of the duchy council to put a request in the duchy council room asking for an extension of the time for repayment. Such a request must be accompanied by a detailed explanation of the difficulty. The loan shall be deemed frozen (no payments required) until the duchy council reaches a decision. The person must comply with the decision of the council.

Art. 4.5.5.: To appeal the refusal of a loan request made to the county agency, the citizen must ask a member of the duchy council to request a hearing in the council rooms about it. The duchy council will review the loan application and will return a final decision in one week, if they fail to respect this delay the loan will be giving. Exception is made to refusal due to lack of funds left in the loan programs, this one cannot be appeal.

Art. 4.5.6.: The clerk must refuse an applicant if funding for the type of loan being requested has run out. A listing of such application shall be kept, with the earliest given preference as monies are repaid to the loan fund.