Alaska Administrative Code
Title 11 - Natural Resources
Part 4 - Agriculture
Chapter 39 - Agricultural Revolving Loan Fund
Article 1 - Powers and Duties
11 AAC 39.071 - Interest rates on loans
Universal Citation: 11 AK Admin Code 39.071
Current through August 30, 2024
(a) At least annually, the board will review and establish interest rates for new loans that are comparable to the rates charged by other agricultural lending institutions in the state for similar types of loans.
(b) The interest rate that will be charged on a new loan is the rate that is in effect on the date that the new loan is approved by the board or the emergency loan committee.
(c) The interest rate on a loan will not be adjusted if the loan is modified or assumed, except for the interest rate on an assumed restructured loan as provided under 11 AAC 39.610.
Authority:AS 03.09.040
AS 03.10.020
AS 03.10.030
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