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2019 Code of Alabama
Title 41 - State Government.
Chapter 14 - State Funds Generally.
Article 3 - Linked Deposit Program of 2007.
Section 41-14-55 - Loan rates.
Universal Citation: AL Code § 41-14-55 (2019)
Section 41-14-55Loan rates.
(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).
(Act 2007-397, p. 790, §1.)
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