(a) There is created in the department an alcoholism and drug abuse revolving loan fund as required under 42 U.S.C. §§ 300x-25 to qualify the state to receive block grant money from the United States Department of Health and Human Services under 42 U.S.C. §§ 300x-21.
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Terms Used In Alaska Statutes 44.29.210

  • 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
  • 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
(b) The fund consists of money appropriated to it, payments of principal on loans made from it, and money chargeable to principal that is collected through liquidation by foreclosure or other process on loans made from it.
(c) Money in the fund may be used as required under 42 U.S.C. §§ 300x-25 to make loans to private nonprofit organizations for the cost of establishing programs to help pay the living expenses of individuals recovering from alcohol or drug abuse who may reside in groups.
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