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Title 3 . Commerce, Community, and Economic Development
Chapter 81 . Fisheries Enhancement Tax Appropriations
Section 81. Closing an assumption

3 AAC 81.081. Closing an assumption

An assumption agreement will be considered by the department to be closed when

(1) all required signatures have been obtained and the assumption agreement has been properly recorded;

(2) the borrower has complied with the insurance requirements contained in an instrument signed by the borrower;

(3) all requirements of the loan committee have been met; and

(4) the borrower is in compliance with all other provisions of the loan documents and this chapter.

History: Eff. 8/10/97, Register 143

Authority: AS 16.10.510


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Last modified 7/05/2006