Section 18.56.400. Powers of corporation related to housing assistance.

The board may
        (1) adopt regulations in accordance with AS 18.56.088 to implement AS 18.56.400 - 18.56.600;
        (2) make and execute agreements, contracts, and other instruments necessary or convenient in the exercise of the powers and functions granted under AS 18.56.400 - 18.56.600;
        (3) purchase or participate in the purchase of small community housing mortgage loans under AS 18.56.400 - 18.56.600;
        (4) purchase or participate in the purchase of loans for building materials for small community housing under AS 18.56.400 - 18.56.600;
        (5) procure insurance against loss in connection with the corporation's functions under AS 18.56.400 - 18.56.600;
        (6) acquire real or personal property, or an interest in real or personal property, by purchase, transfer, or foreclosure, when the acquisition is necessary or appropriate to protect a loan in which the corporation has an interest; sell, transfer and convey that property to a buyer; and, if the sale, transfer or conveyance cannot be effected with reasonable promptness or at a reasonable price, rent or lease the property to a tenant pending the sale, transfer or conveyance;
        (7) do all acts necessary, convenient, or desirable to carry out the powers expressly granted or necessarily implied in AS 18.56.400 - 18.56.600;
        (8) originate and service direct loans made to qualified buyers under AS 18.56.400 - 18.56.600.

Authorities

18.55.997;18.56.090;18.56.400;18.56.430;18.56.450;18.56.530;18.56.540;18.56.550;18.56.600

Notes

Implemented As

15 AAC 150.090
15 AAC 150.100
15 AAC 152.010
15 AAC 152.020
15 AAC 152.025
15 AAC 152.045
15 AAC 152.050
15 AAC 152.060
15 AAC 152.065
15 AAC 152.070
15 AAC 152.090
15 AAC 152.100
15 AAC 152.210
15 AAC 152.220
15 AAC 152.230
15 AAC 152.240
15 AAC 152.250
15 AAC 152.260
15 AAC 152.300
15 AAC 152.310
15 AAC 152.320
15 AAC 152.330
15 AAC 152.340
15 AAC 152.990

References

15 AAC 152.010
AS 18.55.997 Residential loans.
AS 18.56.090 General powers and limitations.
AS 18.56.400 Powers of corporation related to housing assistance.
AS 18.56.430 Home ownership assistance fund.
AS 18.56.450 Operating loss reserve account.
AS 18.56.530 Energy audit exemption.
AS 18.56.540 Toll-free telephone number.
AS 18.56.550 Field offices; contract services; assistance to others.
AS 18.56.600 Definitions.

History

(Sec. 100 ch 4 FSSLA 1992)