3 Alaska Admin. Code § 77.900

Current through November 28, 2024

Section 3 AAC 77.900 - Definitions

In 3 AAC 77.010 - 3 AAC 77.900

(1) "debtor" means an individual, partnership, corporation or other entity which contracts for a loan, assumes a loan, or guarantees or co-signs a loan administered by the department;

(2) "default" means a violation of a provision of the loan documents, including failure to make any payment within 15 days after it is due or failure to maintain insurance required by the department;

(3) "department" means the Department of Commerce, Community, and Economic Development;

(4) "loan committee" means those persons designated by the department to serve as a loan committee;

(5) "repossessed property" means collateral on a loan or other property obtained by the department through legal process, including default or other means; and

(6) "senior loan committee" means those persons designated by the department to serve as a senior loan committee.

3 AAC 77.900

Eff. 3/29/86, Register 97

As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.

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 77.900 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 45.86.040(a)

AS 45.87.060

AS 45.88.020(a)

AS 45.88.150

AS 45.98.030(3)