GroundRules
AS 44.88.555: Servicing of guaranteed loans.
Where this section sits in the code
- Title 44. State Government.
- Chapter 88. Alaska Industrial Development and Export Authority.
- Article 6. Business and Export Assistance Program.
(a) The financial institution that holds a loan guaranteed by the authority under AS 44.88.500 — 44.88.599 shall
(1) service the loan;
(2) exercise diligence in collecting amounts due under the loan; and
(3) comply with all requirements of the loan guarantee agreement.
(b) Amounts received toward satisfaction of a default on a loan guaranteed under AS 44.88.500 — 44.88.599 shall be allocated between the lender and the fund according to the guaranteed percentage of the loan until the principal balance and accrued interest have been repaid.
Collected 2026-09-02T06:19:34Z. Source file · JSON