(a) The foreclosure expense account is established as a special account within the commercial charter fisheries revolving loan fund.
(b) The department may expend money credited to the foreclosure expense account when necessary to protect the state's security interest in collateral on loans granted under AS 16.10.815 or to defray expenses incurred during foreclosure proceedings after an obligor defaults.
Section: Previous 16.10.801 16.10.805 16.10.810 16.10.815 16.10.820 16.10.825 16.10.830 16.10.835 16.10.840 NextLast modified: November 15, 2016