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Maryland Code, Economic Development § 5-459

Current as of December 31, 2021 | Updated by FindLaw Staff

On receiving linked deposit approval from the Authority, the lender shall issue a loan commitment to the applicant that provides that the interest rate on the financing will be below the prevailing market rate to the same extent and for as long as interest earned on the linked deposit is below interest earned on other equivalent deposits with the lender at the time of the deposit.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-459 - last updated December 31, 2021 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-459/

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