Code of Maine Rules
28 - DEPARTMENT OF THE TREASURY
248 - TREASURER OF STATE
Chapter 101 - LINKED INVESTMENT PROGRAM
- Section 248-101-I - Definitions
- Section 248-101-II - Allocation of funds
- Section 248-101-III - Eligibility
- Section 248-101-IV - Application for Investment
- Section 248-101-V - Investment Determination
- Section 248-101-VI - Limitation on Total Investments
- Section 248-101-VII - Limitation on Amount of Investments Supporting Any Single Loan
- Section 248-101-VIII - Limitation on Loan Recipients
- Section 248-101-IX - State Funds Not urity for Loans
- Section 248-101-X - Administration
- Section 248-101-XI - Reservation/Application Fee
Summary: The purpose of these rules is to implement PL 1986, c. 816 "An Act to Allow Investments of State Funds linked to Agricultural Loans", which amends 5 M.R.S.A. Section135 to allow the Treasurer of the State to invest up to $4,000,000.00 of state funds in financial institutions for terms not to exceed one year, at a rate of return not more than 2 percent per year below the rate obtainable had the funds been otherwise invested. The Treasurer may make such investments in support of a loan or loans made by financial institutions to agricultural enterprises for agricultural purposes, provided such loans are made at interest institutions resulting from the reduced rate paid on the investment of State funds.
March 2, 1987, original rule
May 29, 1988, various amendments, 1991, including the addition of Section I(G)and XI; amendment of Section X;
March 6 1991, amendment 2, adding section I(A-1), section I(G), section III(C), paragraphs 2 and 3 of section III, section IV(I), and section XI, and amending section I(E), the last sentence of section III, section IV(H) and (I), and section VIII.
EFFECTIVE DATE (ELECTRONIC CONVERSION):
April 29, 1996
January 28, 1999 - converted to Microsoft Word.
Mach 13, 2002
STATUTORY AUTHORITY: 5 M.R.S.A. § 153 , 5 M.R.S.A. § 5 M.R.S.A. § 135 .