Alabama Administrative Code
Title 892 - STATE TREASURER'S OFFICE
Chapter 892-1-1 - THE LINKED DEPOSIT PROGRAM
Section 892-1-1-.02 - Collection Of Interest For Small Business Deposit
Universal Citation: AL Admin Code R 892-1-1-.02
Current through Register Vol. 42, No. 11, August 30, 2024
The Treasurer shall collect interest from the lending institutions on a monthly basis.
(1) The Treasurer shall collect interest on deposits by (Automated Clearing House) ACH transaction on the last day of each month. Interest shall be calculated on a 30/360 day basis.
Author: Lucy Baxley
Statutory Authority: Code of Ala. 1975, §§ 5-21-7, 5-21-9.
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