(a) There is established as a special account within the residential energy conservation 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 45.88.120 or to defray expenses incurred during foreclosure proceedings after a default by an obligor.
Section: Previous 45.88.100 45.88.110 45.88.120 45.88.130 45.88.140 45.88.150 45.88.190 45.88.500 NextLast modified: November 15, 2016