Justin, age $55,$ earns $$50,000$ annually working for Stone, Inc., an S corporation. He owns $10\%$ of Stone, Inc.$\text{'}$s stock. Justin is a participant in the Stone, Inc., profit$-$sharing plan. His spouse, Meghan, is $50$ years old and is employed by JP Co$.$ She earns $$40,000$ annually and participates in JP$\text{'}$s Section $401($k$)$ plan, under which JP makes matching contributions of up to $3\%$ of covered salary. Assuming that both the Stone, Inc. plan and JP plan have loan provisions, which of the following statements is CORRECT?

If Meghan's Section $401($k$)$ vested account balance is $$50,000,$ she may borrow the entire amount.

Both qualified plans must limit participant loans to no more than $25\%$ of the participant's compensation.

Justin cannot take a loan from the Stone, Inc. plan because he is a greater than $5\%$ shareholder of the company.

If Justin takes a loan from the Stone, Inc. plan, he will be assessed a $10\%$ penalty tax because he is younger than age $59(1)/(2).$