- (a) Only one linked deposit shall be made and be outstanding at any one time to any one eligible borrower.
- (b) The linked deposit amount shall not exceed seven hundred fifty thousand dollars ($750,000) per eligible borrower.
- (c) The initial linked deposit term shall be two years.
- (d) The linked deposit may be renewed for three additional two-year terms at the option of the Treasurer for a total duration of eight years.
- (e) The linked deposit may not be made in support of a loan for the purpose of construction, leasing, rental, real estate investment, other than for owner-occupied business premises of the borrower, or speculation.
- (f) The linked deposit shall be returned to the Treasurer at the earliest of (1) repayment of the linked deposit loan; or (2) expiration of the linked deposit.
- (g) All linked deposit funds and interest shall be electronically disbursed and received through the State Treasury.
- (h) Linked deposit interest shall be paid to the Treasurer monthly.
(Act 2007-397, p. 790, §1.)