Section 16.10.825. Special account established.

Latest version.

   (a) The foreclosure expense account is established as a special account within the commercial charter fisheries revolving loan fund.
   (b) The department 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 16.10.815 or to defray expenses incurred during foreclosure proceedings after an obligor defaults.

Notes

History

(Sec. 12 ch 58 SLA 2012)

                    
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