Section 44.88.550. Interest on guaranteed loan.

Latest version.

   (a) The maximum interest rate that may be charged by a financial institution on a loan guaranteed by the authority is two and three-quarters percentage points above the prime rate.
   (b) If provision is made in the loan guarantee agreement, the interest rate on a loan guaranteed by the authority may increase or decrease in accordance with the changes in the prime rate.

Notes

Implemented As

3 AAC 99.770

History

(Sec. 2 ch 162 SLA 1988; am Sec. 12, 13 ch 51 SLA 1992; am Sec. 13 ch 111 SLA 1996)

                    
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