Any loan application submitted under 15 AAC 151.500 that staff of the Corporation determines substantially meets the program criteria of 15 AAC 151.500 and exceeds $2,500,000 must be presented to the Board of Directors for review and specific direction regarding loan approval or rejection.

(Eff. 5/7/93, Register 130; am 8/3/94, Register 132)

Authority: AS 18.56.088, AS 18.56.090, AS 18.56.099