- (a) A loan must be secured by collateral acceptable to the department, such as a mortgage or other security instrument in real property, equipment, buildings or other tangible assets.
- (b) The department shall not approve a loan that exceeds the value of the collateral used to secure the loan.
(Eff. 2/8/2001, Register 158)
Authority: AS 44.88.600, AS 44.88.610, AS 44.88.620