(a) The linked deposit fixed rate paid by the eligible lending institution shall be two percent below the two-year constant maturity treasury rate.
(b) The minimum linked deposit rate shall be one percent.
(c) The linked deposit loan rate to the eligible borrower shall be set by the eligible lending institution at a fixed rate not more than four percent greater than the interest rate on the linked deposit as provided in subsection (a).
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.