15 AAC 150.040. Compliance with building energy efficiency standard

(a) Except as provided in 15 AAC 150.040(b) , the Corporation will not make, participate in the making of, purchase, or participate in the purchase of a loan for a residential building, the construction of which begins after December 31, 1991, unless the building complies with the building energy efficiency standard adopted by the Corporation in 15 AAC 150.010.

(b) The Corporation will make, participate in the making of, purchase, or participate in the purchase of a loan for a residential building the construction of which began after December 31, 1991, that does not comply with 15 AAC 155.010 only if the loan applicant agrees, in writing, to bring the building into compliance with 15 AAC 155.010 within one year of the date of the loan. The Corporation will, in its discretion, require the applicant to agree to any other terms it considers necessary to assure compliance with this section or to protect its investment in the loan.

(c) A residential building meets the energy efficiency standard for purposes of this section if it is in compliance with the energy efficiency standards as determined by any of the methods set forth by the Corporation under 15 AAC 155.030.

(d) Proof of compliance must be recorded in the recording district where the property is located, and the Corporation must receive a copy of the recorded proof of compliance.

History: Eff. 5/7/93, Register 130

Authority: AS 18.56.088

AS 18.56.090

AS 18.56.096 (c)

AS 18.56.099

AS 18.56.300

Editor's note: Before Register 130, July, 1994, the substance of 15 AAC 150.040 was contained in former 15 AAC 118.269(b). The history note for 15 AAC 150.040 does not reflect the history of the section under its former number.

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