Section 3.99.855. Collateral.

Latest version.

	(a)  A loan must be secured by collateral acceptable to the department, such as a mortgage or other security instrument in real property, equipment, buildings or other tangible assets.  
	(b)  The department shall not approve a loan that exceeds the value of the collateral used to secure the loan.

Authorities

44.88.600;44.88.610;44.88.620

Notes

Authority
 AS 44.88.600  
AS 44.88.610  
AS 44.88.620  
History Eff. 2/8/2001, Register 158

                    
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