Effective Jul 4, 1991Alaska Register 119(Eff. 9/11/85, Register 95; am 7/4/91, Register 119) | Authority: AS 44.33.245
(a) A request to assume the obligations and benefits of a loan made under AS 44.33.240 - 44.33.275 and this chapter will be processed in the same manner as a loan request.
(b) A loan committee may permit an assumption if the applicant is a good financial risk and the security of the state's investment is preserved.
(c) Wraparound financing that includes a loan made under AS 44.33.240 - 44.33.275 and this chapter is prohibited, and constitutes a default on the loan.
(Eff. 9/11/85, Register 95; am 7/4/91, Register 119)