Section 3 AAC 80.440 - Collateral(a) A vessel that can be documented must be documented to be acceptable collateral. If a vessel is offered as collateral for a loan, the department or the department's designee shall be permitted to inspect the vessel before making the loan.(b) A loan will only be made if the items purchased with loan proceeds are placed on the loan as collateral and are placed in the name of the applicant.Eff. 10/16/2012, Register 204; am 7/24/2024, Register 251, October 2024Authority:AS 16.10.905
AS 16.10.915