To be eligible for a loan under Alaska Stat. § 45.88.010 – 45.88.090, an applicant must

(1) physically reside in the state and maintain a domicile in the state during 12 consecutive months before the date of application for a loan and may not have

Terms Used In Alaska Statutes 45.88.025

  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(A) declared or established residency in another state; or
(B) received residency or a benefit based on residency from another state;
(2) be at least 51 percent owned by individuals described in (1) of this section if the applicant is a corporation, joint venture, or partnership; or
(3) be a nonprofit organization under Alaska Stat. Chapter 10.20.
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