(a) The community quota entity revolving loan fund is created. The commissioner may use the fund for loans made under AS 16.10.310(a)(1)(E) after June 30, 2012, and before June 30, 2017, and for administrative and other costs associated with those loans.
(b) The foreclosure expense account is established as a special account in the community quota entity revolving loan fund. The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state's security interest in collateral on loans made under AS 16.10.310 (a)(1)(E) after June 30, 2012, or to defray expenses incurred during foreclosure proceedings after a default by an obligor.
Section: Previous 16.10.330 16.10.333 16.10.335 16.10.337 16.10.338 16.10.339 16.10.340 16.10.342 16.10.345 16.10.350 16.10.353 16.10.355 16.10.360 16.10.370 NextLast modified: November 15, 2016