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.
A loan in which the division will purchase a participation interest under 3 AAC 170.030 must mature within the period of time, and contain amortization terms, reasonable in the determination of the division for the size and type of loan involved. The division will consider an amortization schedule that provides for equal monthly payments through the term of the loan to be reasonable. The loan must be fully repaid within the following periods:
(1) for a loan to be used for working capital, five years from the date that the loan is made;
(2) for a loan to be used to acquire property other than real property, the earlier of
(A) 15 years from the date the loan is made; or
(B) the date that represents 75 percent of the reasonably expected economic life of the property from the date the loan is made as determined by the division; and
(3) for a loan to be used to acquire, improve, or construct real property, the earlier of
(A) 20 years from the date the loan is made; or
(B) the date that represents 75 percent of the reasonably expected economic life of the real property or improvement from the date the loan is made as determined by the division.
History: Eff. 1/19/93, Register 125
Authority: AS 44.33.765
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