Legislation
SECTION 241
Early maturity
State Finance (STF) CHAPTER 56, ARTICLE 16
§ 241. Early maturity. Unless otherwise agreed to by the corporation,
the linked deposit shall automatically mature on the thirtieth calendar
day after the occurrence of any event, monetary or non-monetary, which,
whether declared by the lender or not, constitutes a default under any
term or terms of the linked loan and such default remains uncured as of
such thirty calendar days. Upon early repayment of a linked loan, the
linked deposit shall automatically mature with payment due to the
corporation on or before the last day of the month in which prepayment
occurs.
the linked deposit shall automatically mature on the thirtieth calendar
day after the occurrence of any event, monetary or non-monetary, which,
whether declared by the lender or not, constitutes a default under any
term or terms of the linked loan and such default remains uncured as of
such thirty calendar days. Upon early repayment of a linked loan, the
linked deposit shall automatically mature with payment due to the
corporation on or before the last day of the month in which prepayment
occurs.