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.
Md. Code Ann., Econ. Dev. § 5-459
Known as the Maryland Industrial Development Financing Authority Act
The act spans §§ 5-401 to 5-466 (53 sections).
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.