Section 20.14.900. Definitions.

In this chapter, unless otherwise provided or the context otherwise requires,  
		(1) "board" means the board of the corporation;  
		(2) "borrower" means the individual incurring the primary loan obligation and any cosigner on the loan;  
		(3) "commission" means the Alaska Commission on Postsecondary Education;  
		(4) "corporation" means the Alaska Student Loan Corporation;  
		(5) "corporation's bond counsel" means a counsel under contract with the Department of Law for the benefit of the corporation to provide legal advice on bond matters;  
		(6) "corporation's financial advisor" means a financial advisor on contract with the corporation to provide expertise on financial matters;  
		(7) "competitive sale" means a bond issuance in which the costs of borrowing are determined through bids received for the corporation's bonds;  
		(8) "cosigner" means an endorser;  
		(9) "endorser" means a person who signs a promissory note and who becomes secondarily liable for a loan obligation, agreeing to pay if the borrower does not pay;  
		(10) "executive officer" means the executive director of the commission;  
		(11) "installment" means any single scheduled payment on a borrower's loan;  
		(12) "negotiated sale" means a bond issuance in which the executive officer of the corporation negotiates both the bond yield and the underwriter's compensation;  
		(13) "PLUS loan" means a loan provided under 20 U.S.C. 1078-2;  
		(14) "qualified education loan" means a loan that meets the requirements of 26 U.S.C. 144(b)(1)(B);  
		(15) "qualified underwriters list" means a list of underwriters that have been determined to be qualified to participate in the underwriter selection process described in 20 AAC 14.035;  
		(16) "QUL" means qualified underwriters list;  
		(17) "refinancing loan" means a loan that meets the requirements of 20 AAC 14.200 - 20 AAC 14.240;  
		(18) "Stafford loan" means a federal loan authorized under 20 U.S.C. 1071 - 1078;  
		(19) "underwriters group" means one or more underwriters selected from the QUL through the underwriters selection process to provide underwriting services for a particular negotiated sale;  
		(20) "underwriters selection process" means the process of selection of an underwriting group from the QUL to participate in a bond issuance of the corporation done as a negotiated sale.  

Authorities

14.42.150;14.42.200;14.42.265;14.43.122

Notes

Authority

AS 14.42.150 AS 14.42.200 AS 14.42.265 AS 14.43.122 Editor's note: Before July 31, 2016, the substance of 20 AAC 14.900 was contained in former 20 AAC 15.890. The history note for 20 AAC 14.900 does not reflect the history of the section under its former number. ________________________

History

Eff. 7/31/2016, Register 219

References

20.14.900;20.15.890