Alaska Administrative Code
Title 11 - Natural Resources
Part 4 - Agriculture
Chapter 39 - Agricultural Revolving Loan Fund
Article 4 - Loan Administration
11 AAC 39.411 - Loan closing procedures
Universal Citation: 11 AK Admin Code 39.411
Current through August 30, 2024
(a) At the closing of a loan or modification, the applicant shall
(1) meet all conditions imposed by the board
to be met by closing of the loan or modification;
(2) provide all information requested by the
department; and
(3) execute
promissory notes, real estate mortgages, deeds of trust, chattel mortgages,
security agreements, financing statements, assignments, affidavits, insurance
pay orders, and other instruments that the board may require relating to the
loan or modification.
(b) If a loan agreement or modification is not closed within 90 days following the written notice to the applicant of the decision, the decision expires. The board may extend the time for closing under this subsection not to exceed an additional 90 days for reasonable cause shown.
Authority:AS 06.09.040
AS 03.10.020
AS 03.10.030
AS 03.10.050
Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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