Section 3.99.906. Curtailment of originator or financial institution eligibility.

Latest version.

	(a)  The authority will discontinue purchasing or guaranteeing loans from an originator or a financial institution if the 90-day delinquency rate on AS 44.88  loans from that originator or financial institution exceeds five percent by dollar value.  
	(b)  Repealed 5/4/2010.  
	(c)  In this section, "AS 44.88  loans" means all loan participations and loan guarantees approved and pending closing, owned or issued by the authority under the tax-exempt loan participation program under 3 AAC 99.200 - 3 AAC 99.290, the taxable loan participation program under 3 AAC 99.300 - 3 AAC 99.390, or the business and export assistance program under 3 AAC 99.700 - 3 AAC 99.785.

Authorities

44.88.085;44.88.165

Notes

Authority
 AS 44.88.085  
AS 44.88.165  
History Eff. 11/30/90, Register 118; am 10/16/2006, Register 180; am 5/4/2010, Register 195

                    
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