Section 15 AAC 155.610 - Loan terms(a) The term of a loan under 15 AAC 155.600 shall be determined by the corporation taking into consideration the cost of funds and the source of repayment as further delineated in guidelines.(b) A loan under 15 AAC 155.600 shall bear interest at the rate established by the Corporation. The Corporation shall establish the interest rate for a loan based on factors the Corporation considers relevant, including the source of the money to the Corporation to provide funding for the loan, the length of the commitment period, and other considerations.(c) A loan under 15 AAC 155.600 will not be subject to a maximum loan amount.(d) A loan under 15 AAC 155.600 will not be subject to a maximum loan to value.Eff. 7/14/2010, Register 204; am 5/14/2014, Register 212, January 2015Even though the adoption of 15 AAC 155.610 was effective 7/14/2010, it was not published until Register 204, January 2013.
Authority:AS 18.56.088
AS 18.56.090
AS 18.56.855