(a) The term of any member home loan shall not exceed thirty years or the lesser period as may be determined appropriate upon consideration of the character and economic life of the property securing the loan. There shall be no minimum term requirement.(b) If the loan is secured by first mortgage on leasehold property, the fixed rental term of the lease shall extend at least five years after the date of the execution of the note and mortgage, and the remaining term of the lease shall extend at least two years after the stated maturity date of the note and mortgage.(c) The term of any leasehold conversion loan shall not exceed fifteen years.[Eff 2/9/89] (Auth: HRS §§ 88-28, 88-119.5) (Imp: HRS §§ 88-119, 88-119.5)