Made available by Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.

You can also go to The Alaska Legal Resource Center or search the entire website search.

Touch N' Go, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.
Title 3 . Commerce, Community, and Economic Development
Chapter 40 . Veteran's Loan Assumptions
Section 10. Guaranteed loan provisions

3 AAC 40.010. Guaranteed loan provisions

(a) Guaranty of loans by the Division of Veterans' Affairs shall provide that the notice of default is to be given within 90 days after default, and that such notice shall be in writing. If such notice is not given in writing within 90 days after default in interest or principal payments, the guaranty shall be null and void. The guaranty shall further provide for assignment of the veteran's note and mortgage to the division in the event the division is called upon to honor the guaranty.

(b) A loan otherwise eligible to be guaranteed which is for an amount over the legal maximum may be guaranteed only for the legal maximum amount. In that case the guaranty applies to the first and all subsequent amounts repaid until the balance has been reduced by the amount of the guaranty, at which time the guaranty shall become void. Then the remaining balance will be eligible for a new guaranty.

History: In effect before 7/28/59

Authority: AS 26.15.010

AS 26.15.030


Note to HTML Version:

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006