(a) The provisions of Alaska Stat. § 14.43.100, 14.43.120(a)-(c),(m),and(r)-(u), 14.43.122, 14.43.135, 14.43.145 – 14.43.155, 14.43.173, and 14.43.910 – 14.43.990 apply to a loan made under Alaska Stat. § 14.43.710 – 14.43.750.
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 14.43.740

  • 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.
  • 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
  • month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
(b)[Repealed, Sec. 18 ch 54 SLA 1997.]
(c) The corporation shall set the interest rate on a loan made under Alaska Stat. § 14.43.710 – 14.43.750, but the annual rate may not exceed 8.25 percent.
(d) Repayment of the principal and interest on a loan made under Alaska Stat. § 14.43.710 – 14.43.750 begins on the first of the month immediately following loan disbursement. The loan may be cancelled without prejudice at any time before actual disbursement. The loan shall provide for repayment of the total amount owed in periodic installments in not more than 10 years from the commencement of repayment. If the commission and the borrower agree to a different repayment schedule, the borrower shall repay the loan in accordance with the agreement.
(e) Provision shall be made for payment by the borrower of fees and costs incurred in collection of delinquent or defaulted loans.
(f) The commission may withhold disbursement of a loan if the borrower or family member is no longer eligible under Alaska Stat. § 14.43.750.
(g)[Repealed, Sec. 45 ch 89 SLA 2014.]
  Previous section
Next section  
 Article 11 Contents