Terms Used In Alaska Statutes > Title 3 > Chapter 20 - Agricultural and Industrial Program Support

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• borrower: means an individual who receives a mortgage loan. See Alaska Statutes 06.60.990
• Contract: A legal written agreement that becomes binding when signed.
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
• depository institution: has the meaning given in 12 U. See Alaska Statutes 06.60.990
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• fund: means the mortgage loan originator surety fund established under Alaska Stat. See Alaska Statutes 06.60.990
• fund claim: means a claim against the fund. See Alaska Statutes 06.60.990
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• license: means a license issued under this chapter. See Alaska Statutes 06.60.990
• licensed mortgage loan originator: means a person who holds a mortgage loan originator license issued under this chapter. See Alaska Statutes 06.60.990
• licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage licensee: means a person who holds a mortgage license. See Alaska Statutes 06.60.990
• mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• nontraditional mortgage product: means a mortgage product other than a 30-year fixed-rate mortgage. See Alaska Statutes 06.60.990
• peace officer: means
  (A) an officer of the state troopers. See Alaska Statutes 01.10.060
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alaska Statutes 06.60.990
• registered depository institution: means a depository institution that is registered under Alaska Stat. See Alaska Statutes 06.60.990
• registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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