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) The Corporation will establish and, in its discretion, from time to time revise rates of interest applicable to loans. The Corporation will not make, participate in the making of, purchase, or participate in the purchase of a loan unless the loan bears interest at the rate established under this section at the time of the making, purchasing, or participating by the Corporation. The rate of interest established and revised under this section will:
(1) not exceed the legal rate of interest in the state applicable to the type of loan involved;
(2) be adequate to insure the financial viability of the Corporation's bond and note financing programs and comply with the requirements of contracts entered into with holders of the Corporation's bonds and notes;
(3) comply with all provisions of law, including United States Treasury regulations, applicable to the Corporation and its loans; and
(4) be designed to promote the use of the programs by qualifying residents of the state.
(b) The board of directors may delegate the power to revise interest rates on mortgage loans to the executive director.
History: Eff. 5/7/93, Register 130
Authority: AS 18.56.050
AS 18.56.090 (13)
Editor's note: Before Register 130, July, 1994, the substance of 15 AAC 150.060 was contained in former 15 AAC 118.250. The history note for 15 AAC 150.060 does not reflect the history of the section under its former number.
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