This article shall be known as the Linked Deposit Program of 2007. The purpose of this article is to enhance the George Wallace, Jr., Plan for Linked Deposits of 1988 and further stimulate growth and development in agricultural and small business operations, and to provide disaster relief funds to citizens, by authorizing the State Treasurer to invest a portion of the portfolio of the state with participating eligible lending institutions in a below market rate deposit which links the deposit to a reduced rate loan to eligible borrowers.
Structure Code of Alabama
Chapter 14 - State Funds Generally.
Article 3 - Linked Deposit Program of 2007.
Section 41-14-50 - Short Title; Legislative Intent.
Section 41-14-51 - Definitions.
Section 41-14-52 - Creation and Administration of Program.
Section 41-14-53 - Applications for Loans; Linked Deposit Package.
Section 41-14-54 - Terms of Linked Deposits.
Section 41-14-55 - Loan Rates.
Section 41-14-56 - Liability of State and Treasurer ; Delays in Payments.