New York State Finance Law Article 16 - WATER POLLUTION CONTROL LINKED DEPOSIT PROGRAM ACT

  • 235 - Short Title.
    This article shall be known and may be cited as the "water pollution control linked deposit program act".
  • 236 - Definitions.
    When used in this article, unless the context clearly indicates otherwise, the following terms shall have the following meanings: 1. "Corporation" means the New York...
  • 237 - Establishment and Purpose; Water Pollution Control Linked Deposit Program Authorization.
    The water pollution control linked deposit program is hereby created. The purpose of this program is to encourage and assist eligible borrowers within the state...
  • 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...
  • 239 - Linked Loans Interest Rate; Limitation on Lender's Fees.
    1. Linked loans shall bear interest at the linked loan interest rate. Lenders shall certify to the corporation that the linked loan interest rate is...
  • 240 - Application Procedure.
    1. The corporation shall provide an application form to lenders for linked deposits. Such form shall reflect the qualifying information as developed by the commissioner...
  • 241 - Early Maturity.
    Unless otherwise agreed to by the corporation, the linked deposit shall automatically mature on the thirtieth calendar day after the occurrence of any event, monetary...
  • 242 - Monitoring and Reporting.
    1. The corporation shall require periodic reports or other information the corporation deems necessary from lenders and borrowers on the status of the linked loan...
  • 243 - Rules and Regulations.
    The corporation may promulgate rules and regulations necessary and reasonable for the operation of the programs.

Last modified: February 3, 2019