Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 10 - Economic Development
Chapter 87 - Mining Loans
3 AAC 87.900 - Definitions

(1) repealed 8/10/97;

(2) "default" includes a violation of any provision of AS 27.09, this chapter, or the loan documents, failure to make the necessary payment within 15 days after it is due, or failure to maintain the insurance required by the department;

(3) "department" means the Department of Commerce, Community, and Economic Development;

(4) "mining" means the extraction of ore and preparation of a mineral product for market;

(5) "residency" means, in the case of an individual, physical presence in Alaska with the intent to remain indefinitely and make a home in the state;

(6) "wraparound financing" means a contract that includes the balance due on an existing debt and an additional amount to cover the difference between the selling price and the existing debt; and

(7) "director" means the director of the division assigned economic development functions or its successor agency in the department.