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To be eligible for a loan,
(1) an applicant must intend to use the loan for purchase of fuel for an emergency or annual or semiannual supply, including the necessary costs of transporting the fuel;
(2) the applicant must agree to repay the loan in one year or less, according to a repayment plan determined by the authority;
(3) the amount borrowed may not exceed 90 percent of the wholesale price of the fuel purchased plus the cost of transporting the fuel;
(4) the amount of the loan, added to the amounts of all other bulk fuel loans to the same borrower in the same fiscal year, may not exceed $300,000.
History: Eff. 2/16/96, Register 137; am 3/25/2005, Register 173
Authority: AS 42.45.250
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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