(1) adopt regulations to implement AS 44.88.700 – 44.88.799;
Terms Used In Alaska Statutes 44.88.770
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
(2) establish terms and conditions for loan guarantees and loans, subject to the requirements of AS 44.88.700 – 44.88.799;(3) make and execute contracts and other instruments to implement AS 44.88.700 – 44.88.799;(4) charge reasonable fees and interest rates that the authority may establish by regulation for the service it provides under AS 44.88.700 – 44.88.799;(5) acquire real or personal property by purchase, transfer, or foreclosure when the acquisition is necessary to protect the authority’s interest in a loan or a loan guarantee;(6) exercise any other power necessary to implement AS 44.88.700 – 44.88.799; and(7) to the extent the authority considers it to be in its best interest to do so, use money to pay expenses relating to the liquidation of collateral securing loans guaranteed or made by the authority under AS 44.88.700 – 44.88.799.
