Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 5 - Division of Veterans' Affairs
Chapter 41 - Veteran's Loan Assumptions
3 AAC 41.080 - Assumptions

Universal Citation: 3 AK Admin Code 3 AAC 41.080

Current through February 24, 2025

(a) The department will, in its discretion, allow an assumption of a loan made under AS 26.15 and this chapter, if the department determines the assumption is in the best interests of the state.

(b) A request for an assumption of a loan made under AS 26.15 and this chapter will be processed in the same manner as a loan application. If necessary to evaluate the request, the department will, in its discretion, require that the applicant supply one or more of the items specified in 3 AAC 41.010, before the request will be processed.

(c) Wraparound financing that includes a loan made under AS 26.15 and this chapter is prohibited and constitutes a default on the loan.

Authority:AS 26.15.010

AS 26.15.030

AS 26.15.040

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