Application By Eligible Lending Institutions To Participate In Linked Deposit Program

Sec. 17.906. APPLICATION BY ELIGIBLE LENDING INSTITUTIONS TO PARTICIPATE IN LINKED DEPOSIT PROGRAM. To participate in the agricultural water conservation linked deposit program, an eligible lending institution must: (1) solicit loan applications, which must contain a description of an agricultural water conservation project; (2) review applications to determine if applicants are eligible and creditworthy; and (3) submit the applications of eligible and creditworthy applicants to the executive administrator with a certification: (A) of the interest rate applicable to each applicant by the eligible lending institution; and (B) of the soil and water conservation district in which an applicant is located by a director of the district that states that: (i) the applicant of the proposed project has a soil and water conservation plan approved by the district; and (ii) the project furthers or implements the plan. Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(u), eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 352, Sec. 21, eff. Sept. 1, 2003.