A linked deposit is a deposit governed by a written deposit agreement between the board and an eligible lending institution that provides that:
(1) the eligible lending institution pay interest on the deposit at a rate determined by the board;
(2) the state not withdraw any part of the deposit before the expiration of a period set by a written advance notice of the intention to withdraw; and
(3) the eligible lending institution agree to lend the value of the deposit to a person at a maximum rate that is the rate paid by the eligible lending institution to the board plus a maximum of four percent.