Alaska Statutes 06.60.690 – Fund operations
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 06.60.690
- department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
- fund: means the mortgage loan originator surety fund established under Alaska Stat. 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.
The department shall deposit into the fund money that the department recovers from a mortgage loan originator licensee under Alaska Stat. § 06.60.745. The department may not consider amounts paid from the fund for hearing or legal expenses when determining the maximum reimbursement to be awarded under Alaska Stat. § 06.60.710 or the maximum liability for fund claims under Alaska Stat. § 06.60.710.