Section 3.41.080. Assumptions.

Latest version.

	(a)  The department will, in its discretion, allow an assumption of a loan made under AS 26.15  and this chapter, if the department determines the assumption is in the best interests of the state.  
	(b)  A request for an assumption of a loan made under AS 26.15  and this chapter will be processed in the same manner as a loan application. If necessary to evaluate the request, the department will, in its discretion, require that the applicant supply one or more of the items specified in 3 AAC 41.010, before the request will be processed.  
	(c)  Wraparound financing that includes a loan made under AS 26.15  and this chapter is prohibited and constitutes a default on the loan.

Authorities

26.15.010;26.15.030;26.15.040

Notes

Authority
 AS 26.15.010  
AS 26.15.030  
AS 26.15.040  
History Eff. 9/11/85, Register 95; am 8/10/97, Register 143

                    
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