3 Alaska Admin. Code § 77.050

Current through December 21, 2024

Section 3 AAC 77.050 - Criteria for evaluating offers

The loan committee will consider the following factors in making its decision on an offer regarding repossessed property:

(1) the outstanding loan balance on the repossessed property;

(2) the current assessed, appraised, surveyed, replacement, forced sale, or market value;

(3) the present supply and demand for similar property;

(4) the length of time the state has owned the property;

(5) the length of time the property has been on the market;

(6) the ongoing management costs of the property to the state;

(7) any minimum acceptable offer set by the department;

(8) whether the offer is for cash or requires departmental financing;

(9) the credit history and financial condition of the person making the offer, if known;

(10) other factors that the loan committee determines to be significant.

3 AAC 77.050

Eff. 3/29/86, Register 97

Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89.070 as AS 45.88.150; former AS 45.90.020(a) as AS 45.81.120, former AS 45.95.020 as AS 45.81.210. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 77.050 to reflect the statutory renumbering.

Authority:AS 16.10.310(a)

AS 16.10.339

AS 16.10.510(4)

AS 26.15.010

AS 26.15.030

AS 26.15.040

AS 27.09.050

AS 44.33.020(1)

AS 44.33.245(a)

AS 45.81.120

AS 45.81.210

AS 45.87.060

AS 45.88.020(a)

AS 45.88.150

AS 45.98.030(3)