(a) There is established as a special account within the small business revolving loan fund the foreclosure expense account. This account is established as a reserve from fund equity.
(b) 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 45.81.210 or to defray expenses incurred during foreclosure proceedings after a default by an obligor.
Section: Previous 45.81.200 45.81.210 45.81.220 45.81.230 45.81.240 45.81.250 45.81.260 45.81.290 NextLast modified: November 15, 2016