Section 15 AAC 151.412 - Security(a) A loan under 15 AAC 151.400 - 15 AAC 151.440 shall be secured by residential real estate occupied by an individual meeting the definition of "housing for older persons" contained in 24 C.F.R. 100.300 - 100.308, as amended.(b) The corporation may condition a loan under 15 AAC 151.400 - 15 AAC 151.440 on an agreement that a covenant will encumber the real estate securing the loan which meets the requirements established in 15 AAC 151.435(c).Eff. 5/16/2012, Register 204Even though the adoption of 15 AAC 151.412 was effective 5/16/2012, it was not published until Register 204, January 2013.
Authority:AS 18.56.088
AS 18.56.090
AS 18.86.099
AS 18.56.730