- (a) The authority will discontinue purchasing or guaranteeing loans from an originator or a financial institution if the 90-day delinquency rate on AS 44.88 loans from that originator or financial institution exceeds five percent by dollar value.
- (b) Repealed 5/4/2010.
- (c) In this section, "AS 44.88 loans" means all loan participations and loan guarantees approved and pending closing, owned or issued by the authority under the tax-exempt loan participation program under 3 AAC 99.200 - 3 AAC 99.290, the taxable loan participation program under 3 AAC 99.300 - 3 AAC 99.390, or the business and export assistance program under 3 AAC 99.700 - 3 AAC 99.785.
(Eff. 11/30/90, Register 118; am 10/16/2006, Register 180; am 5/4/2010, Register 195)
Authority: AS 44.88.085, AS 44.88.165