Section 44.88.710 - Effect of guarantee(a) A guarantee under AS 44.88.700 - 44.88.799 does not create a debt or liability of the state.(b) A guarantee under AS 44.88.700(a)(1) may not be terminated, cancelled, or revoked except under its terms. A guarantee held by a participating financial institution is presumed to be valid.Added by SLA 2012, ch. 61,sec. 2, eff. 6/13/2012.