Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 10 - Economic Development
Chapter 75 - Capstone Avionics Loans
3 AAC 75.010 - Application process
Universal Citation: 3 AK Admin Code 3 AAC 75.010
Current through February 27, 2024
(a) To apply for a loan for the purchase and installation of capstone avionics equipment, the applicant shall file
(1) a completed application for a capstone
avionics loan, on a form provided by the department;
(2) documentation to verify that the aircraft
on which the capstone avionics equipment is to be installed meets the
eligibility requirements contained in
AS
44.33.665(a) and
3
AAC 75.025;
(3) a letter of intent stating the amount
requested and the intended use of the proposed loan money on a form provided by
the department;
(4) a schedule of
acceptable collateral, including a copy of the aircraft title or the aircraft
lease and capstone avionics equipment to be acquired with the loan proceeds, on
a form provided by the department;
(5) an individual financial statement
consisting of a current balance sheet and a profit and loss statement, on a
form provided by the department;
(6) a signed authorization, on a form
provided by the department, for any individual or institution to release to the
department credit information concerning the applicant;
(7) a copy of the applicant's federal income
tax return for the preceding year; as necessary to verify the applicant's
income, or if a federal income tax return for the preceding year is not
available, the department will request copies of federal income tax returns for
earlier years or other documentation of the applicant's income;
(8) a signed consent, on a form provided by
the department, for the department to obtain information from, or release
information to, other government agencies;
(9) copies of the purchase agreement, cost
estimates, invoice, or other documentation to verify the cost of equipment
being purchased and installed with loan proceeds;
(10) the application fee required by
3
AAC 75.055(a);
(11) any other information that might be
helpful to the applicant in demonstrating eligibility for a loan, as requested
by the department; and
(12) a copy
of the airworthiness certificate issued under
49 U.S.C.
44704(d) by the Federal
Aviation Administration for the aircraft on which the capstone avionics
equipment is to be installed.
(b) An applicant who submits a false sworn or unsworn statement on or in support of a loan application is subject to AS 11.56.200-11.56.210 and may be denied any future loans.
Authority:AS 44.33.660
AS 44.33.665
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