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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 3.87. Mining Loans. |
Section 3.87.070. Supervision of loans.
Latest version.
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If the loan is in default, the department will, in its discretion, require a borrower to furnish annual financial statements consisting of a balance sheet, profit and loss statement, source and application of all money received and a schedule of change of owner's equity. The department will, in its discretion, require an audit or audits to determine whether the borrower has complied with the provisions of the loan, and conduct periodic inspection of collateral securing repayment of the loan.
Authorities
27.09.040;27.09.050