(a) The department may

Terms Used In Alaska Statutes 44.29.220

  • Amortization: Paying off a loan by regular installments.
  • Contract: A legal written agreement that becomes binding when signed.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
(1) adopt regulations necessary to carry out its functions under Alaska Stat. § 44.29.210 – 44.29.230 and to administer the program required under 42 U.S.C. § 300x – 4a, including regulations to establish reasonable fees for services provided, procedures for foreclosure proceedings, and procedures for collecting delinquent accounts;
(2) establish amortization plans for the repayment of loans;
(3) charge and collect the fees established under this subsection; and
(4) contract for the servicing of loans made under Alaska Stat. § 44.29.210.
(b)[Repealed, Sec. 28 ch 90 SLA 1991].
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