(a) There is established as a special account within the Alaska World War II veterans' revolving fund the foreclosure expense account. This account is established as a reserve from fund equity.
(b) The commissioner of commerce, community, and economic development 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 26.15.040 or to defray expenses incurred during foreclosure proceedings after a default by an obligor.
Section: Previous 26.15.040 26.15.050 26.15.060 26.15.070 26.15.080 26.15.085 26.15.090 26.15.095 26.15.100 26.15.130 26.15.140 26.15.150 26.15.160 26.15.170 NextLast modified: November 15, 2016