Section 3.77.050. Criteria for evaluating offers.

The loan committee will consider the following factors in making its decision on an offer regarding repossessed property:  
		(1) the outstanding loan balance on the repossessed property;  
		(2) the current assessed, appraised, surveyed, replacement, forced sale, or market value;  
		(3) the present supply and demand for similar property;  
		(4) the length of time the state has owned the property;  
		(5) the length of time the property has been on the market;  
		(6) the ongoing management costs of the property to the state;  
		(7) any minimum acceptable offer set by the department;  
		(8) whether the offer is for cash or requires departmental financing;  
		(9) the credit history and financial condition of the person making the offer, if known;  
		(10) other factors that the loan committee determines to be significant.  

Authorities

16.10.310;16.10.339;16.10.510;26.15.010;26.15.030;26.15.040;27.09.050;44.33.020;44.33.245;45.81.120;45.81.210;45.87.060;45.88.020;45.88.150;45.98.030;01.05.031;45.89.070;45.90.020;45.95.020;44.62.125

Notes

Authority

AS 16.10.310(a) AS 16.10.339 AS 16.10.510(4) AS 26.15.010 AS 26.15.030 AS 26.15.040 AS 27.09.050 AS 44.33.020(1) AS 44.33.245(a) AS 45.81.120 AS 45.81.210 AS 45.87.060 AS 45.88.020(a) AS 45.88.150 AS 45.98.030(3) Editor's note: Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89.070 as AS 45.88.150; former AS 45.90.020(a) as AS 45.81.120, former AS 45.95.020 as AS 45.81.210. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 77.050 to reflect the statutory renumbering.

History

Eff. 3/29/86, Register 97

References

3.77.050