Loan money will only be disbursed when
- (1) a security interest in the collateral on behalf of the state has been perfected;
- (2) the borrower has complied with the insurance requirements contained in an instrument signed by the borrower;
- (3) the requirements of the department as specified by the loan committee have been met; and
- (4) the borrower is in compliance with all other provisions of the loan documents, AS 45.88.010 - 45.88.090, and this chapter.
(Eff. 9/7/2012, Register 203)
Authority: AS 45.88.020