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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.81. Fisheries Enhancement Loans and Grants. |
Section 3.81.081. Closing an assumption.
Latest version.
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An assumption agreement will be considered by the department to be closed when (1) all required signatures have been obtained and the assumption agreement has been properly recorded; (2) the borrower has complied with the insurance requirements contained in an instrument signed by the borrower; (3) all requirements of the loan committee have been met; and (4) the borrower is in compliance with all other provisions of the loan documents and this chapter.