- Alaska Statutes.
- Title 44. State Government
- Chapter 88. Alaska Industrial Development and Export Authority
- Section 555. Servicing of Guaranteed Loans.
previous: Section 550
. Interest On Guaranteed Loan.
next: Section 560
. Powers of the Authority.
AS 44.88.555. Servicing of Guaranteed Loans.
- (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
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