<br><br> <br>Page 1 of 1 <br>42.510 Fixing rates of interest -- Relationship to Linked Deposit Investment <br>Program. <br>(1) The State Investment Commission shall, in a timely manner, consistent with the <br>goal of maximizing the return on invested funds, fix the rate of interest to be paid <br>by qualified public depositories upon investment deposits. <br>(2) Time deposits in Kentucky depositories made pursuant to this chapter shall bear <br>interest at a rate which would be equal to one hundred percent (100%) of the <br>average full fair market rate of interest for the deposits in Kentucky and contiguous <br>states determined from quotes from not less than seven (7) banks, at least four (4) of <br>which shall be Kentucky banks. Those rates shall be recorded by the State <br>Investment Commission. <br>(3) The State Investment Commission may invest through qualified depositories in a <br>Linked Deposit Investment Program to provide low cost funds for reduced rate <br>loans to eligible small businesses and agribusinesses. The linked deposit loan rate <br>shall be fixed by the State Investment Commission in the manner provided under <br>KRS 41.610. <br>Effective: July 15, 1996 <br>History: Amended 1996 Ky. Acts ch. 208, sec. 1, effective July 15, 1996. -- Amended <br>1994 Ky. Acts ch. 276, sec. 7, effective July 15, 1994. -- Created 1982 Ky. Acts <br>ch. 382, sec. 7, effective July 15, 1982. <br><br>