N.Y. State Finance Law 238 – Linked loans
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§ 238. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible borrowers in connection with eligible projects. No such loans shall be made after September thirtieth, two thousand eleven. The credit decisions for making a linked loan shall be made solely by the lender.
Terms Used In N.Y. State Finance Law 238
- Lender: means any state or federally-chartered savings bank, savings and loan association, federal savings bank, federal savings and loan association, farm credit system institution, or commercial bank or trust company designated by the corporation to participate in the program. See N.Y. State Finance Law 236
- Linked loan: means a loan for purposes of an eligible project, in an amount equal to a linked deposit and bearing interest at the linked loan interest rate. See N.Y. State Finance Law 236
- Program: means the water pollution control linked deposit program. See N.Y. State Finance Law 236