The division may consider a borrower to be in default on a loan made under AS 42.45.250 - 42.45.299 if the borrower
- (1) violates a provision of AS 42.45.250 - 42.45.299, this chapter, or the loan documents; or
- (2) fails to make a necessary payment during the 30-day period after the date that the payment is due; or
- (3) fails to maintain any insurance that the division requires as a condition for the loan.
(Eff. 3/8/2013, Register 205)
Authority: AS 42.45.250, AS 42.45.260, AS 42.45.270