Section 3 AAC 99.750 - Costs and fees(a) The financial institution that submits an application under 3 AAC 99.720_must also submit a nonrefundable $250 fee with the application. In addition, the financial institution, or any substitute financial institution, or the borrower must pay a nonrefundable $500 fee for any modification of the terms of the guarantee.(b) The financial institution originating a loan or the borrower must pay a guarantee fee equal to two percent of the guaranteed amount of the loan as provided in the guarantee authorization. The board shall review the fee structure periodically and may establish other fees it determines commercially appropriate.(c) The financial institution renewing a loan secured solely by inventory or accounts receivable or renewing a loan for working capital, or the borrower, must pay a fee of one-half percent of the guaranteed amount of the loan for each renewal as provided in the loan guarantee agreement. The board shall review the fee structure periodically and may establish other fees it determines commercially appropriate.(d) The financial institution or the borrower must also pay all third party expenses of the authority related to the issuance of the authority's guarantee of a loan.Eff. 811 /88, Register 107; am I 1/22/88, Register 109; am 11130/90, Register 118; am 7119/91, Register 119; am 9/25/92, Register 124; am I 2/2/94, Register 134; am 10/23/96, Register 141; am 2/11199, Register 150; am 1111199, Register 153; am 2/8/200 I, Register I 58; am 6/28/2018, Register 227, October 2018Authority:AS 44.88.080
AS 44.88.085
AS 44.88.535