Section 3.79.900. Definitions.

Unless the context requires otherwise, in this chapter  
		(1) repealed 8/10/97;  
		(2) "default" includes a violation of any provision of this chapter, AS 45.88,  or the loan document, failure to make the necessary payment within 15 days after it is due, or failure to maintain the insurance required by the department;  
		(3) "department" means the Department of Commerce, Community, and Economic Development;  
		(4) "wraparound financing" means a contract that includes the balance due on an existing debt and an additional amount to cover the difference between the selling price and the existing debt; and  
		(5) "director" means the director of the division assigned economic development functions or its successor agency in the department.  

Authorities

45.88.120;45.88.150;44.62.125;01.05.031;45.89;45.88;45.89.030;45.89.070

Notes

Authority

AS 45.88.120 AS 45.88.150 Editor's note: As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development. Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89 as AS 45.88. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 79.900 to reflect the statutory renumbering. Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89.030 as AS 45.88.120; former AS 45.89.070 as AS 45.88.150. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 79.900 to reflect the statutory renumbering. ________________________

History

Eff. 9/11/85, Register 95; am 8/10/97, Register 143; am 10/16/2012, Register 204

References

3.79.900