There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 42 FINANCE AND ADMINISTRATION CABINET
42.510 Fixing rates of interest -- Relationship to Linked Deposit Investment Program.
Download pdfby qualified public depositories upon investment deposits. (2) Time deposits in Kentucky depositories made pursuant to this chapter shall bear interest at a rate which would be equal to one hundred percent (100%) of the
average full fair market rate of interest for the deposits in Kentucky and contiguous
states determined from quotes from not less than seven (7) banks, at least four (4) of
which shall be Kentucky banks. Those rates shall be recorded by the State
Investment Commission. (3) The State Investment Commission may invest through qualified depositories in a Linked Deposit Investment Program to provide low cost funds for reduced rate
loans to eligible small businesses and agribusinesses. The linked deposit loan rate
shall be fixed by the State Investment Commission in the manner provided under
KRS 41.610. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 208, sec. 1, effective July 15, 1996. -- Amended 1994 Ky. Acts ch. 276, sec. 7, effective July 15, 1994. -- Created 1982 Ky. Acts
ch. 382, sec. 7, effective July 15, 1982.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.