Section 15.151.412. Security.

Latest version.

	(a)  A loan under 15 AAC 151.400 - 15 AAC 151.440 shall be secured by residential real estate occupied by an individual meeting the definition of "housing for older persons" contained in 24 C.F.R. 100.300 - 100.308, as amended.  
	(b)  The corporation may condition a loan under 15 AAC 151.400 - 15 AAC 151.440 on an agreement that a covenant will encumber the real estate securing the loan which meets the requirements established in 15 AAC 151.435(c).

Authorities

18.56.088;18.56.090;18.86.099;18.56.730

Notes

Authority
 AS 18.56.088  
AS 18.56.090  
AS 18.86.099  
AS 18.56.730  
Editor's note: Even though the adoption of 15 AAC 151.412 was effective 5/16/2012, it was not published until Register 204, January 2013.  
History Eff. 5/16/2012, Register 204

References

15.151.412

                    
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