<br><br> <br>Page 1 of 1 <br>41.615 Use of moneys obtained -- Refinancing of prior loans. <br>(1) Moneys obtained from the Linked Deposit Investment Program by eligible small <br>businesses and agribusinesses may be used for annual working capital for <br>production costs, interest costs, capital expense, and debt refinancing. <br>(2) Eligible lending institutions who have entered into business loans with eligible <br>borrowers prior to July 15, 1996 shall be allowed to refinance prior loans under the <br>terms of the Linked Deposit Investment Program. The borrower shall not be <br>charged any penalty for the refinancing at the same lending institution. <br>(3) No eligible small business or agribusiness may have a total outstanding principal <br>debt of more than one hundred thousand dollars ($100,000) in the Linked Deposit <br>Investment Program. <br>Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 172, sec. 3, effective July 15, 1998. -- Amended <br>1996 Ky. Acts ch. 208, sec. 7, effective July 15, 1996. -- Created 1994 Ky. Acts <br>ch. 276, sec. 4, effective July 15, 1994. <br><br>