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Title 3 . Commerce, Community, and Economic Development
Chapter 6 . Land Sales
Section 120. Alternative mortgage instruments

3 AAC 06.120. Alternative mortgage instruments

A bank may make, purchase, and participate in alternative mortgage instruments if the legal rate of interest charged by the bank complies with the provisions of AS 45.45.010 (b) and 12 C.F.R. 545.6 - 1, 2, as amended January 1, 1979, and July 1, 1979.

History: Eff. 12/30/79, Register 72

Authority: AS 06.01.020

AS 06.05.075

AS 06.15.010

AS 06.15.250

AS 06.15.360

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Last modified 7/05/2006