Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 10 - Economic Development
Chapter 83 - Historical District Loans
3 AAC 83.080 - Assumptions
Universal Citation: 3 AK Admin Code 3 AAC 83.080
Current through February 27, 2024
(a) A request to assume the obligations and benefits of a loan made under AS 45.98 and this chapter will be processed in the same manner as a loan request.
(b) A loan committee may permit an assumption if the applicant is a good financial risk and the security of the state's investment is preserved.
(c) Wraparound financing that includes a loan made under AS 45.98 and this chapter is prohibited, and constitutes a default on the loan.
Authority:AS 45.98.020
AS 45.98.030
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