- Alaska Statutes.
- Title 44. State Government
- Chapter 88. Alaska Industrial Development and Export Authority
- Section 85. Administrative Procedure.
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AS 44.88.085. Administrative Procedure.
- (a) Except for AS 44.62.310
and 44.62.312 regarding public meetings, the
provisions of the Administrative Procedure Act regarding the adoption of regulations (AS 44.62.040
- 44.62.320) do not apply to the authority. The
authority shall make available to members of the public copies of the regulations adopted under this section. Within 45
days after adoption of a regulation under this section, the chairman of the authority shall submit the regulation
adopted to the chairman of the Administrative Regulation Review Committee under AS 24.20.400
- (b) The authority may adopt regulations under this section by motion or by resolution or in any other manner permitted by
- (c) The authority may adopt regulations to carry out the purposes of this chapter and shall adopt regulations as provided
in (g) of this section.
- (d) Except as provided in (e) of this section, at least 15 days before the adoption, amendment, or repeal of a regulation,
the authority shall give public notice of the proposed action by publishing the notice in at least three newspapers of
general circulation in the state and by mailing a copy of the notice to every person who has filed a request for notice
of proposed regulations with the authority. The public notice must include a statement of the time, place, and nature
of the proceedings for the adoption, amendment, or repeal of the regulation and must include an informative summary of
the subject of the proposed action. On the date and at the time and place designated in the notice, the authority
shall give each interested person or an authorized representative of the person, or both, the opportunity to present
statements, arguments, or contentions orally or in writing and shall give members of the public an opportunity to
present oral statements, arguments, or contentions for a total period of at least one hour. The authority shall
consider all relevant matter presented to it before taking the proposed action on the regulation. At a hearing under
this subsection, the authority may continue or postpone the hearing to a time and place determined by the authority and
announced at the hearing before taking the action to continue or postpone the hearing. A regulation adopted, amended,
or repealed by the authority may vary from the informative summary specified in this subsection if the subject matter
of the action taken on the regulation remains the same and if the original notice of the proposed action was written so
as to assure that members of the public are reasonably notified of the subject matter of the proposed action in order
for them to determine whether their interests could be affected by the authority's proposed action on that subject.
- (e) The adoption, amendment, or repeal of a regulation may be made as an emergency regulation if, in the order of
adoption, the authority states the facts constituting the emergency and makes a finding that the adoption of the
regulation is necessary for the immediate preservation of the orderly operation of the authority's programs. The
requirements of (d) of this section do not apply to the initial adoption of an emergency regulation; however, upon
adoption of an emergency regulation under this subsection, the authority shall, within 10 days after that adoption,
publish notice of the adoption in accordance with the notice procedures specified in (d) of this section. An emergency
regulation adopted under this subsection may not remain in effect for more than 120 days unless, before the expiration
of that period, the authority adopts that regulation as a permanent regulation in accordance with the procedures
specified in (d) of this section.
- (f) A regulation adopted under this section takes effect immediately upon its adoption by the authority or at another time
specified by the authority in its order of adoption.
- (g) The authority shall adopt regulations necessary for the following purposes in connection with its programs for the
financing of projects under AS 44.88.155
- (1) determination of borrower eligibility;
- (2) loan guidelines and terms, including
- (A) maximum loan amounts;
- (B) required loan-to-value ratios; and
- (C) a method for determining loan interest rates;
- (3) characteristics of projects eligible for loans or purchase of loans; and
- (4) the qualifications of loan originators and servicers and the method of allocating amounts available for the purchase
- (h) [Repealed, Sec. 21 ch 109 SLA 1998].
Article 03. FINANCIAL PROVISIONS
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