Section 3 AAC 75.015 - Examination(a) A loan officer shall evaluate and process the materials described in 3 AAC 75.010. The loan officer shall evaluate the applicant's eligibility, financial and credit history, financial statement, ability to repay, and proposed collateral.(b) On the basis of the evaluation, the loan officer shall either(1) inactivate the application due to(A) lack of information required under 3 AAC 75.010;(B) ineligibility of the applicant; or(C) failure by the aircraft to meet the eligibility requirements under 3 AAC 75.025; or(2) recommend proposed action on the loan request to the appropriate loan committee; however, the recommendation of a loan officer is not binding on a loan committee.Eff. 8/22/2008, Register 187Authority:AS 44.33.660
AS 44.33.665