- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 98. Historical District Loan Act
- Section 15. Special Account Established.
previous: Section 10
. Creation of Historical District Revolving Loan Fund.
next: Section 20
. Historical District Loans.
AS 45.98.015. Special Account Established.
- (a) There is established as a special account within the historical district revolving loan fund the foreclosure expense
account. This account is established as a reserve from fund equity.
- (b) The commissioner of commerce, community, and economic development may expend money credited to the foreclosure expense
account when necessary to protect the state's security interest in collateral on loans made under this chapter, or to
defray expenses incurred during foreclosure proceedings after a default by an obligor.
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