Section 16.10.342. Foreclosure expense account.

Latest version.

   (a) There is established as a special account within the commercial fishing revolving loan fund the foreclosure expense account.
   (b)   [Repealed, Sec. 72 ch 113 SLA 1982].
   (c) [See delayed amendment note]. =ro The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state's security interest in collateral on loans granted under AS 16.10.300 - 16.10.370, except loans under AS 16.10.310(a)(1)(E), or to defray expenses incurred during foreclosure proceedings after a default by an obligor.

Notes

Implemented As

3 AAC 77.100

History

(Sec. 4 ch 83 SLA 1978; am Sec. 72 ch 113 SLA 1982; am Sec. 7 ch 58 SLA 2012)

                    
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