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(a) Whether or not the debtor requests a hearing, the debtor may request an extension of time to reinstate the note or pay it in full beyond that specified in the notice of default and final demand for payment.
(b) The request for an extension and a completed extension package must be postmarked or delivered to the department no later than the 120th day after the notice of default and final demand for payment has been issued.
(c) If the department grants an extension to the debtor, the notice of default and final demand for payment will be extended in accordance with the terms of the extension.
History: Eff. 11/2/84, Register 92; am 8/10/97, Register 143
Authority: AS 16.10.335
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Last modified 7/05/2006