1. (a) The board may determine that a borrower has experienced an agricultural disaster or declare that an agricultural disaster has adversely affected an area or agricultural industry in the state.

2. (b) When the board determines that a borrower has experienced an agricultural disaster, or declares that an agricultural disaster has affected an area or agricultural industry in the state, the board will issue a written decision that

   1. (1) describes the circumstances giving rise to and the nature of the agricultural disaster;
   2. (2) identifies the area, if any, in the state affected by the agricultural disaster;
   3. (3) identifies the agricultural industry, if any, affected by the agricultural disaster;
   4. (4) describes any pertinent loss of or damage to property or agricultural production;
   5. (5) describes the adverse financial effect of the agricultural disaster on the borrower, the area, or the industry;
   6. (6) identifies the type of loan eligible due to the disaster for restructure or payment moratorium under this chapter; and
   7. (7) specifies the date by which an application for restructuring under As 03.10.033 or payment moratorium under 11 AAC 39.501 must be received by the board.

(Eff. 6/1/2001, Register 158)

Authority: AS 03.09.040, AS 03.10.020, AS 03.10.030, AS 03.10.050