Demand Feature Consumer Loans

Posted By: Shondra

Demand Feature Consumer Loans - 03/24/17 07:50 PM

Any other Louisiana Bankers use demand features on consumer promissory notes? My bank has had a demand clause for years, and when we switched to Laser Pro, we started getting critical warnings on the consumer loans. I tried to look for any laws or regulations that prohibit a due on demand clause, but I haven't found anything specific. I really don't see the point in having a demand feature since we can always accelerate the debt based on numerous default provisions.