(a) The Linked Deposit Program of 2007 is created and the Treasurer shall administer the program.
(b) The Treasurer shall establish procedures, guidelines, forms, and other requirements to carry out this article. The Treasurer may disseminate program information to interested parties.
(c) The maximum amount that the Treasurer may invest in the program shall not exceed 10 percent of all monies available to the Treasurer for investment as calculated by the average of the quarter-end amount for the previous four quarters. The amount invested in the program is at the total discretion of the Treasurer.
(d) The Treasurer shall provide an annual report outlining the status of the program and publish the report on the Treasury website for the benefit of the Governor, Legislature, and general public.
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.