Section 3.81.080. Assumptions.

Latest version.

	(a)  A request to assume the obligations and benefits of a loan made under AS 16.10.500 - 16.10.620 and this chapter will be processed in the same manner as a loan request.  
	(b)  A loan committee may permit an assumption if the applicant is a good financial risk and the security of the state's investment is preserved.  
	(c)  Wraparound financing that includes a loan made under AS 16.10.500 - 16.10.620 and this chapter is prohibited, and constitutes a default on the loan.

Authorities

16.10.510

Notes

Authority
 AS 16.10.510  
History Eff. 9/11/85, Register 95; am 7/4/91, Register 119

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');