1. (a) Within 15 days after a completed application has been received, the department will appoint a loan advisory committee composed of three individuals, each of whom resides within the certificated area served by the applicant, but none of whom is a person identified in 3 AAC 106.210(a)(12).

2. (b) Members of the committee may be selected by the department from lists of nominees provided by the applicant and by community groups and interested persons, but when possible, the committee may not include more than one individual who directly represents any of the following:

   1. (1) the State of Alaska;
   2. (2) a borough or city;
   3. (3) a village council;
   4. (4) an Indian Relocation Act (IRA) council;
   5. (5) consumers;
   6. (6) utilities;
   7. (7) business or labor organizations;
   8. (8) finance and real estate professions;
   9. (9) a regional corporation;
   10. (10) a village corporation;
   11. (11) a nonprofit organization; or
   12. (12) the federal government.
3. (c) The committee shall choose a chairperson from among its members and within 30 days after appointment by the department shall, following reasonable notice to the public, hold at least one public meeting in the area served by the applicant.
4. (d) The committee's recommendation concerning the loan shall be transmitted by the chairman to the department within 45 days after receiving the department's written determination provided for in 3 AAC 106.220. In making its recommendation, the committee shall consider the factors set out in AS 42.45.030.

(Eff. 2/16/96, Register 137)