Section 3.75.010. Application process.

	(a)  To apply for a loan for the purchase and installation of capstone avionics equipment, the applicant shall file  
		(1) a completed application for a capstone avionics loan, on a form provided by the department;  
		(2) documentation to verify that the aircraft on which the capstone avionics equipment is to be installed meets the eligibility requirements contained in AS 44.33.665(a) and 3 AAC 75.025;  
		(3) a letter of intent stating the amount requested and the intended use of the proposed loan money on a form provided by the department;  
		(4) a schedule of acceptable collateral, including a copy of the aircraft title or the aircraft lease and capstone avionics equipment to be acquired with the loan proceeds, on a form provided by the department;  
		(5) an individual financial statement consisting of a current balance sheet and a profit and loss statement, on a form provided by the department;  
		(6) a signed authorization, on a form provided by the department, for any individual or institution to release to the department credit information concerning the applicant;  
		(7) a copy of the applicant's federal income tax return for the preceding year; as necessary to verify the applicant's income, or if a federal income tax return for the preceding year is not available, the department will request copies of federal income tax returns for earlier years or other documentation of the applicant's income;  
		(8) a signed consent, on a form provided by the department, for the department to obtain information from, or release information to, other government agencies;  
		(9) copies of the purchase agreement, cost estimates, invoice, or other documentation to verify the cost of equipment being purchased and installed with loan proceeds;  
		(10) the application fee required by 3 AAC 75.055(a);  
		(11) any other information that might be helpful to the applicant in demonstrating eligibility for a loan, as requested by the department; and  
		(12) a copy of the airworthiness certificate issued under 49 U.S.C. 44704(d) by the Federal Aviation Administration for the aircraft on which the capstone avionics equipment is to be installed.  
	(b) An applicant who submits a false sworn or unsworn statement on or in support of a loan application is subject to AS 11.56.200 - 11.56.210 and may be denied any future loans.  

Authorities

44.33.660;44.33.665

Notes

Reference

3 AAC 75.015
3 AAC 75.065

Authority

AS 44.33.660 AS 44.33.665

History

Eff. 8/22/2008, Register 187; am 10/30/2010, Register 196