- Alaska Statutes.
- Title 44. State Government
- Chapter 33. Department of Commerce, Community, and Economic Development
- Section 255. Loan Terms.
previous: Section 250
. Conditions of Loans. [Repealed, Sec. 9 Ch 112 SLA 1981].
next: Section 260
. Eligibility For Loans.
AS 44.33.255. Loan Terms.
- (a) A loan to a child care facility under AS 44.33.240
- 44.33.275 may not exceed $50,000.
- (b) The rate of interest charged shall be seven percent a year on the unpaid balance of the loan.
- (c) The duration for repayment of a loan may not exceed 20 years.
- (d) All principal and interest payments, and any money chargeable to principal or interest that is collected through
liquidation by foreclosure or other process on loans made under AS 44.33.240
- 44.33.275, shall be paid into the child care
facility revolving loan fund.
- (e) If a child care facility ceases operation, any loan to the facility from the fund is due on the date the facility
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