Section 14.43.740. Loan terms, limits, and conditions.

   (a) The provisions of AS 14.43.100, 14.43.120(a) - (c), (m), and (r) - (u), 14.43.122, 14.43.135, 14.43.145 - 14.43.155, 14.43.173, and 14.43.910 - 14.43.990 apply to a loan made under AS 14.43.710 - 14.43.750.
   (b)   [Repealed, Sec. 18 ch 54 SLA 1997]. 
   (c) The corporation shall set the interest rate on a loan made under AS 14.43.710 - 14.43.750, but the annual rate may not exceed 8.25 percent.
   (d) Repayment of the principal and interest on a loan made under AS 14.43.710 - 14.43.750 begins on the first of the month immediately following loan disbursement. The loan may be cancelled without prejudice at any time before actual disbursement. The loan shall provide for repayment of the total amount owed in periodic installments in not more than 10 years from the commencement of repayment. If the commission and the borrower agree to a different repayment schedule, the borrower shall repay the loan in accordance with the agreement.
   (e) Provision shall be made for payment by the borrower of fees and costs incurred in collection of delinquent or defaulted loans.
   (f) The commission may withhold disbursement of a loan if the borrower or family member is no longer eligible under AS 14.43.750.
   (g)   [Repealed, Sec. 45 ch 89 SLA 2014].  

Notes

Implemented As

20 AAC 14.050
20 AAC 15.520
20 AAC 15.537
20 AAC 15.540
20 AAC 15.550
20 AAC 15.590
20 AAC 15.910
20 AAC 15.915
20 AAC 15.922
20 AAC 15.924
20 AAC 15.927
20 AAC 15.935
20 AAC 15.940
20 AAC 15.945
20 AAC 15.950
20 AAC 15.955
20 AAC 15.960
20 AAC 15.970
20 AAC 15.972
20 AAC 15.975
20 AAC 15.988
20 AAC 15.990

History

(Sec. 17 ch 92 SLA 1987; am Sec. 2 ch 44 SLA 1991; am Sec. 43 ch 63 SLA 1993; am Sec. 8 ch 112 SLA 1994; am Sec. 21 ch 5 SLA 1996; am Sec. 11 - 14, 18 ch 54 SLA 1997; am Sec. 26, 27 ch 63 SLA 2004; am Sec. 2 ch 7 SLA 2009; am Sec. 38, 45 ch 89 SLA 2014)