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Title 3 . Commerce, Community, and Economic Development
Chapter 12 . Land Sales
Section 390. Loan file

3 AAC 12.390. Loan file

A separate file must be maintained for each loan in the office of the licensee. The file must contain the note, the security agreement, the disclosure and acknowledgement required in 3 AAC 12.145, the financing statement, the termination statement, and all other evidence of indebtedness, security, or the release of indebtedness that pertains to the loan, except if the note or any court documents are kept in a separate file or if the papers are in the custody of a court or an agent for collection. If a borrower is also a comaker or guarantor on another loan, the file of the borrower must be cross-referenced to the comade or guaranteed loan file.

History: Eff. 6/30/77, Register 62; am 10/16/2003, Register 168

Authority: AS 06.20.160

AS 06.20.180

AS 06.20.240

AS 06.20.280

AS 06.20.340

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Last modified 7/05/2006