Section 11.39.071. Interest rates on loans.

Latest version.

	(a)  At least annually, the board will review and establish interest rates for new loans that are comparable to the rates charged by other agricultural lending institutions in the state for similar types of loans.  
	(b)  The interest rate that will be charged on a new loan is the rate that is in effect on the date that the new loan is approved by the board or the emergency loan committee.  
	(c)  The interest rate on a loan will not be adjusted if the loan is modified or assumed, except for the interest rate on an assumed restructured loan as provided under 11 AAC 39.610.

Authorities

03.09.040;03.10.020;03.10.030

Notes

Authority
 AS 03.09.040  
AS 03.10.020  
AS 03.10.030  
History Eff. 6/1/2001, Register 158; am 10/27/2002, Register 164

                    
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