The Corporation will establish the maximum period for repayment of loans under 15 AAC 152.010 - 15 AAC 152.100. The maximum periods will not exceed the following:

1. (1) for a building materials loan, the lesser of:

   1. (A) the remaining economic life of the housing structure, as determined by the Corporation; or
   2. (B) 15 years.
2. (2) for a loan other than a loan described in paragraph (1) of this section, the lesser of (A) the remaining economic life of the housing structure, as determined by the Corporation or (B) 30 years.

(Eff. 5/7/93, Register 130)

Authority: AS 18.56.088, AS 18.56.400, AS 18.56.440