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Title 3 . Commerce, Community, and Economic Development
Chapter 106 . Financial and Technical Assistance for Energy Systems, Facilities, and Equipment
Section 325. Lending practices

3 AAC 106.325. Lending practices

(a) The loan period will be fixed by the authority based on the needs of the borrower. However, loans must be repaid within one year.

(b) No proceeds of a bulk fuel loan may be used to

(1) purchase aviation gas, unless the borrower certifies in writing that the aviation gas will be used only for local ground or water transportation, such as snow machines and outboard motors;

(2) purchase fuel other than bulk petroleum fuels;

(3) subsidize a business; or

(4) make a profit, unless the profit is used to purchase additional community fuel supplies.

History: Eff. 2/16/96, Register 137

Authority: AS 42.45.250

AS 44.83.080

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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