(a) The corporation shall adopt regulations under Alaska Stat. § 18.56.088(a) and (b) establishing acceptable security for loans originated or purchased in whole or in part under Alaska Stat. § 18.56.70018.56.799.

Terms Used In Alaska Statutes 18.56.730

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) The corporation

(1) may condition a loan under Alaska Stat. § 18.56.70018.56.799 on an agreement by the borrower to maintain the financed project as senior housing for a time period specified by the corporation; and
(2) shall establish by regulation the criteria it will use for specifying time periods under (1) of this subsection and for determining under what circumstances the time periods can be decreased after the loan is made.