An assumption agreement will be considered by the department to be closed when
- (1) all required signatures have been obtained and the assumption agreement has been properly recorded;
- (2) all requirements of the loan committee have been met; and
- (3) the borrower is in compliance with all provisions of the loan documents, including insurance requirements, and this chapter.
(Eff. 8/10/97, Register 143)
Authority: AS 44.33.245