Section 44.33.670. Limitations on loans.

Latest version.

A loan established under AS 44.33.650 - 44.33.690
        (1) may not exceed a term of 10 years, except for extensions under AS 44.33.660;
        (2) may not bear interest less than four percent per year;
        (3) must be secured by collateral acceptable to the department; and
        (4) may not exceed 80 percent of the cost of the eligible capstone avionics equipment purchased with proceeds of the loan.

Notes

Implemented As

3 AAC 75.020
3 AAC 75.050

References

3 AAC 75.020

History

(Sec. 1 ch 15 SLA 2008)

                    
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