reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.070 - Supervision of loans

Current through May 31, 2024
If a loan is in default, the department will, in its
				  discretion, require a borrower to furnish annual financial statements
				  consisting of a balance sheet, profit and loss statement, sources and
				  application of all money received, and a schedule of change of owner's equity.
				  The department will, in its discretion, also require an audit or audits to
				  determine whether the borrower has complied with the provisions of the loan,
				  and may conduct periodic inspection of collateral securing repayment of the
				  loan.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.075 - Costs

Current through May 31, 2024
(a) All expenses incurred by the department
				in processing an application must be paid by the applicant. These expenses
				include the cost of title reports and insurance, recording fees, appraisals,
				surveys, travel, and other direct costs.
(b) An assumption fee of one percent of the
				loan balance is due from the borrower when all applicable provisions of this
				chapter have been met.
(c) A late
				fee not to exceed five percent of the payment amount will, in the department's
				discretion, be charged to a borrower for each loan payment that is more than 15
				days past due.
(d) An extension fee
				not to exceed $100 will, in the department's discretion, be charged to a
				borrower to process a loan extension.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.080 - Assumptions

Current through May 31, 2024
(a) A request to assume the obligations and
				benefits of a loan made under
				AS
				44.33.240-44.33.275 and this chapter will be
				processed in the same manner as a loan request.
(b) A loan committee may permit an assumption
				if the applicant is a good financial risk and the security of the state's
				investment is preserved.
(c)
				Wraparound financing that includes a loan made under
				AS
				44.33.240-44.33.275 and this chapter is
				prohibited, and constitutes a default on the loan.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.081 - Closing an assumption

Current through May 31, 2024
An assumption agreement will be considered by the department
				  to be closed when
(1) all required
				signatures have been obtained and the assumption agreement has been properly
				recorded;
(2) all requirements of
				the loan committee have been met; and
(3) the borrower is in compliance with all
				provisions of the loan documents, including insurance requirements, and this
				chapter.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.082 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under
				AS
				44.33.240-44.33.275 and this chapter will be
				processed in the same manner as a loan application. The department will, in its
				discretion, require one or more of the items specified in
				3 AAC 82.010.
(b) A loan committee may permit a loan
				modification only if the security of the state and its investment is
				preserved.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.085 - Reconsideration of an assumption request

Current through May 31, 2024
(a) If an
				assumption of a loan request is denied, inactivated, or significantly modified
				by the department, an applicant may file a written request for reconsideration
				within 30 days after receipt of notice of the department's decision.
(b) The department will, in its discretion,
				reconsider a request upon a showing by the applicant that
(1) there has been a substantial change in
				the circumstances leading to the department's decision;
(2) additional relevant information can be
				provided to the department that was not initially available; or
(3) administrative errors were made by the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.090 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record, including deeds of trust, financing statements, warranty deeds,
				bills of sale, mortgages, liens, and vehicle titles;
(2) general information regarding loans,
				including the original loan amount, loan terms, personal guarantees, and
				disbursement and repayment schedules;
(3) insurance matters, including title
				insurance policies and correspondence with insurance companies or borrowers
				regarding losses, accident reports, and nonpayment of premiums;
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 82 - Child Care Facility Loans › 3 AAC 82.900 - Definitions

Current through May 31, 2024
Unless the context requires otherwise, in this chapter
(1) repealed 8/10/97;
(2) "default" includes a violation of any
				provision of this chapter,
				AS
				44.33.240-44.33.275 or the loan document,
				failure to make the necessary payment within 15 days after it is due, or
				failure to maintain the insurance required by the department;
(3) "department" means the Department of
				Commerce, Community, and Economic Development;
(4) "wraparound financing" means a contract
				that includes the balance due on an existing debt and an additional amount to
				cover the difference between the selling price and the existing debt;
(5) "director" means the director of the
				division assigned economic development functions or its successor agency in the
				department.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 44.33.245
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.010 - Application process

Current through May 31, 2024
(a) To apply for an assumption of a
				historical district loan, an applicant shall file with the department
(1) a completed application for an assumption
				of a historical district loan, on a form provided by the department;
(2) an individual financial statement from
				each individual applicant, including each member of a partnership or other
				association, or, if the applicant is a corporation, each individual owning 10
				percent or more of outstanding shares, on a form provided by the
				department;
(3) a business
				financial statement, on a form provided by the department;
(4) an actual statement of profit and loss,
				on a form provided by the department;
(5) a projected statement of profit and loss,
				on a form provided by the department;
(6) a personal resume, including three
				personal references, on a form provided by the department;
(7) a business resume, on a form provided by
				the department;
(8) a signed credit
				authorization, on a form provided by the department;
(9) signed copies of the applicant's federal
				income tax returns for the preceding three years, including returns for each
				member of a partnership or other association;
(10) an earnest money agreement explaining
				all terms and conditions of the transaction with signatures by all
				parties;
(11) a $100 nonrefundable
				application fee; and
(12) any other
				information that might be helpful to the applicant in qualifying for an
				assumption, as requested by the department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.015 - Examination

Current through May 31, 2024
(a) The materials described in
				3 AAC 83.010 will be processed and evaluated by a loan
				officer. The loan officer will evaluate the applicant's financial and credit
				history, ability to repay, and proposed collateral.
(b) On the basis of the evaluation, the loan
				officer will either inactivate the application, due to lack of information
				required under
				3 AAC 83.010, or recommend proposed action on the loan
				request to the appropriate loan committee. However, the recommendation of a
				loan officer is not binding on a loan committee.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.020 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				persons appointed by the director to act on a loan request.
(b) A loan committee may approve, deny, or
				modify and approve a loan request, or may table a loan request subject to
				obtaining additional information.
(c) A loan committee may impose reasonable
				conditions on the approval of a loan, including
(1) additional collateral to secure the
				loan;
(2) additional guarantors;
				and
(3) subordination of prior
				lienholders' rights to the interests of the state.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.040 - Financial and credit record

Current through May 31, 2024
(a) The department
				will, in its discretion, consider the following factors in evaluating an
				applicant's financial and credit record:
(1)
				existing and prior debts;
(2)
				credit reports obtained from creditors and private credit reporting
				services;
(3) prior loan history
				with the department;
(4) timeliness
				in making payments on loans and other debts;
(5) prior bankruptcies;
(6) existence of tax liens;
(7) unpaid judgments and prior foreclosures;
				and
(8) financial and credit
				reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.045 - Ability to repay

Current through May 31, 2024
The department will, in its discretion, consider the
				  following factors in evaluating an applicant's ability to repay:
(1) income history, including present
				income;
(2) prospects for future
				income;
(3) assets and their
				liquidity;
(4)
				liabilities;
(5) reasonableness of
				projected profit and loss statement; and
(6) other relevant experience.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.070 - Supervision of loans

Current through May 31, 2024
If a loan is in default, the department will, in its
				  discretion, require the borrower to furnish annual financial statements
				  consisting of a balance sheet, profit and loss statement, sources and
				  application of all money received, and a schedule of change of owner's equity.
				  The department will, in its discretion, also require an audit or audits to
				  determine whether the borrower has complied with the provisions of the loan,
				  and conduct periodic inspection of collateral securing repayment of the
				  loan.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.075 - Costs

Current through May 31, 2024
(a) All expenses incurred by the department
				in processing an application must be paid by the applicant. These expenses
				include the cost of title reports and insurance, recording fees, appraisals,
				surveys, travel, and other direct costs.
(b) An assumption fee of one percent of the
				loan balance is due from the borrower when all applicable provisions of this
				chapter have been met.
(c) A late
				fee not to exceed five percent of the payment amount will, in the department's
				discretion, be charged to a borrower for each loan payment that is more than 15
				days past due.
(d) An extension fee
				not to exceed $100 will, in the department's discretion, be charged to a
				borrower to process a loan extension.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.080 - Assumptions

Current through May 31, 2024
(a) A request to assume the obligations and
				benefits of a loan made under AS 45.98 and this chapter will be processed in
				the same manner as a loan request.
(b) A loan committee may permit an assumption
				if the applicant is a good financial risk and the security of the state's
				investment is preserved.
(c)
				Wraparound financing that includes a loan made under AS 45.98 and this chapter
				is prohibited, and constitutes a default on the loan.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.081 - Closing an assumption

Current through May 31, 2024
An assumption agreement will be considered by the department
				  to be closed when
(1) all required
				signatures have been obtained and the assumption agreement has been properly
				recorded;
(2) all requirements of
				the loan committee have been met; and
(3) the borrower is in compliance with all
				provisions of the loan documents, including insurance requirements, and this
				chapter.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.082 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under AS 45.98 and this chapter will be processed in the same manner as a
				loan application. The department will, in its discretion, require one or more
				of the items specified in
				3 AAC 83.010.
(b) A loan committee may permit a loan
				modification only if the security of the state and its investment is
				preserved.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.085 - Reconsideration of an assumption request

Current through May 31, 2024
(a) If an
				assumption of a loan request is denied, inactivated, or significantly modified
				by the department, an applicant may file a written request for reconsideration
				within 30 days after receipt of notice of the department's decision.
(b) The department will, in its discretion,
				reconsider a request upon a showing by the applicant that
(1) there has been a substantial change in
				the circumstances leading to the department's decision;
(2) additional relevant information can be
				provided to the department that was not initially available; or
(3) administrative errors were made by the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.090 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record including deeds of trust, financing statements, warranty deeds,
				bills of sale, mortgages, liens, and vehicle titles;
(2) general information regarding loans,
				including the original loan amount, loan terms, personal guarantees, and
				disbursement and repayment schedules;
(3) insurance matters including title
				insurance policies, and correspondence with insurance companies or borrowers
				regarding losses, accident reports, and nonpayment of premiums; and
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 83 - Historical District Loans › 3 AAC 83.900 - Definitions

Current through May 31, 2024
Unless the context requires otherwise, in this chapter
(1) repealed 8/10/97;
(2) "default" includes a violation of any
				provision of AS 45.98, this chapter or the loan documents, failure to make the
				necessary payment within 15 days after it is due, or failure to maintain the
				insurance required by the department;
(3) "department" means the Department of
				Commerce, Community, and Economic Development;
(4) "wraparound financing" means a contract
				that includes the balance due on an existing debt and an additional amount to
				cover the difference between the selling price and the existing debt;
				and
(5) "director" means the
				director of the division assigned economic development functions or its
				successor agency in the department.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 45.98.020
AS
					 45.98.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.010 - Application process

Current through May 31, 2024
(a) To apply for an assumption of an existing
				small business loan, an applicant shall file with the department
(1) a completed application for a small
				business loan assumption, on a form provided by the department;
(2) repealed 8/10/97;
(3) an individual financial statement from
				each individual applicant, including each member of a partnership or other
				association, or, if the applicant is a corporation, each individual owning 10
				percent or more of any outstanding shares, on a form provided by the
				department;
(4) a business
				financial statement, if applicable, on a form provided by the
				department;
(5) an actual statement
				of profit and loss, on a form provided by the department;
(6) a projected statement of profit and loss,
				on a form provided by the department;
(7) a personal resume, on a form provided by
				the department;
(8) a business
				resume, on a form provided by the department;
(9) a signed credit authorization, on a form
				provided by the department;
(10)
				repealed 8/10/97;
(11) an earnest
				money agreement explaining all terms and conditions of the transaction, with
				signatures by all parties;
(12)
				signed copies of the applicant's federal income tax returns for the preceding
				three years, including returns for each member of a partnership or other
				association;
(13) a $100
				nonrefundable application fee; and
(14) repealed 8/10/97;
(15) any other information that might be
				helpful to the applicant in demonstrating eligibility for the assumption, as
				requested by the department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.015 - Examination

Current through May 31, 2024
(a) The materials described in
				3 AAC 86.010 will be processed and evaluated by a loan
				officer. The loan officer will evaluate the applicant's financial and credit
				history, ability to repay, and proposed collateral.
(b) On the basis of the evaluation, the loan
				officer will either inactivate the application, due to lack of information
				required under
				3 AAC 86.010, or recommend proposed action on the
				request for assumption to the appropriate loan committee. However, the
				recommendation of a loan officer is not binding on a loan committee.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020 as AS
					 45.88.210. As of Register 203 (January 2013), the regulations attorney made
					 conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.015 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.020 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				persons appointed by the director to act on a request for assumption.
(b) A loan committee may approve, deny, or
				modify and approve a request for assumption, or may table a request subject to
				obtaining additional information.
(c) A loan committee may impose reasonable
				conditions on the approval of an assumption, including
(1) additional collateral to secure the
				loan;
(2) additional guarantors;
				and
(3) subordination of prior
				lienholders' rights to the interests of the state.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.040 - Financial and credit record

Current through May 31, 2024
(a) The department
				will, in its discretion, consider the following factors in evaluating an
				applicant's financial and credit record:
(1)
				existing and prior debts;
(2)
				credit reports obtained from creditors and private credit reporting
				services;
(3) prior loan history
				with the department;
(4) timeliness
				in making payments on loans and other debts;
(5) bankruptcies;
(6) existence of tax liens;
(7) judgments and foreclosures; and
(8) financial and credit
				reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.045 - Ability to repay

Current through May 31, 2024
The department will, in its discretion, consider the
				  following factors in evaluating an applicant's ability to repay a proposed
				  assumption:
(1) income history,
				including present income;
(2)
				prospects for future income;
(3)
				assets and their liquidity; and
(4)
				liabilities.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020(a) as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.045 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.065 - Closing an assumption

Current through May 31, 2024
An assumption agreement will be considered by the department
				  to be closed when
(1) all required
				signatures have been obtained and the assumption agreement has been properly
				recorded;
(2) the borrower has
				complied with the insurance requirements contained in an instrument signed by
				the borrower;
(3) requirements of
				the loan committee have been met; and
(4) the borrower is in compliance with all
				other provisions of the loan documents and this chapter.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.010 as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.065 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.070 - Supervision of loans

Current through May 31, 2024
If a loan is in default, the department will, in its
				  discretion, require the borrower to furnish annual financial statements
				  consisting of a balance sheet, profit-and-loss statement, sources and
				  application of all money received, and a schedule of change of owner's equity.
				  The department will, in its discretion, also require an audit or audits to
				  determine whether the borrower has complied with the provisions of the
				  assumption, and conduct periodic inspection of collateral securing repayment of
				  the loan.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020(a) as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.070 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.075 - Costs

Current through May 31, 2024
(a) All expenses incurred by the department
				in processing an application must be paid by the applicant. These expenses
				include the cost of title reports and insurance, recording fees, appraisals,
				surveys, travel, and other direct costs.
(b) An assumption fee of one percent of the
				remaining loan balance is due from the borrower when all provisions of
				3 AAC 86.065 have been met.
(c) A late fee not to exceed five percent of
				the payment amount will, in the department's discretion, be charged to a
				borrower for each loan payment that is more than 15 days past due.
(d) An extension fee not to exceed $100 will,
				in the department's discretion, be charged to a borrower to process a loan
				extension.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020 as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.075 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.080 - Assumptions

Current through May 31, 2024
(a) The department will, in its discretion,
				allow an assumption of a loan made under AS 45.81 and this chapter, if the
				department determines the assumption is in the best interest of the
				state.
(b) A request for an
				assumption of a loan made under AS 45.81 and this chapter will be processed in
				the same manner as a loan application. If necessary to evaluate the request,
				the department will, in its discretion, require that the applicant supply one
				or more of the items specified in
				3 AAC 86.010, before the request will be
				processed.
(c) Wraparound financing
				that includes a loan made under AS 45.81 and this chapter is prohibited and
				constitutes a default on the loan.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95 as AS 45.81. As of Register 203 (January 2013), the regulations
					 attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.080 to reflect the statutory
					 renumbering.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020 as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.080 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.082 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under AS 45.81 or assumed under this chapter will be processed in the same
				manner as a loan application. The department will, in its discretion, require
				one or more of the items specified in
				3 AAC 86.010.
(b) A loan committee may permit a loan
				modification only if the security of the state and its investment is
				preserved.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95 as AS 45.81. As of Register 203 (January 2013), the regulations
					 attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.082 to reflect the statutory
					 renumbering.
Acting under
					 AS
					 01.05.031, the revisor of statutes renumbered
					 former AS 45.95.010 as
					 AS
					 45.81.200; former AS 45.95.020(a) as
					 AS
					 45.81.210. As of Register 203 (January 2013),
					 the regulations attorney made conforming technical revisions under
					 AS
					 44.62.125(b)(6) to
					 3 AAC 86.082 to reflect the statutory
					 renumbering.
Authority:
AS
					 45.81.200
AS
					 45.81.210
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.085 - Reconsideration of assumption request

Current through May 31, 2024
(a) If an
				assumption request is denied, inactivated, or significantly modified by the
				department, an applicant may file a written request for reconsideration within
				30 days after receipt of notice of the department's decision.
(b) The department will, in its discretion,
				reconsider a request upon a showing by the applicant that
(1) there has been a substantial change in
				the circumstances leading to the department's decision;
(2) additional relevant information can be
				provided to the department that was not initially available; or
(3) administrative errors were made by the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.090 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record including deeds of trust, financing statements, warranty deeds,
				bills of sale, mortgages, liens, and vehicle titles;
(2) general information regarding loans,
				including the original loan amount, loan terms, personal guarantees, and
				disbursement and repayment schedules;
(3) insurance matters, including title
				insurance policies and correspondence with insurance companies and borrowers
				regarding losses, accident reports, and nonpayment of premiums; and
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 86 - Small Business Loan Assumptions › 3 AAC 86.900 - Definitions

Current through May 31, 2024
(a) Unless the context requires otherwise, in
				this chapter
(1) repealed 8/10/97;
(2) "default" includes a violation of any
				provision of AS 45.81, this chapter, or the loan documents, failure to make the
				necessary payment within 15 days after it is due, or failure to maintain the
				insurance required by the department;
(3) "department" means the Department of
				Commerce, Community, and Economic Development;
(4) "small business" means a commercial
				enterprise operated for profit and engaged in lawful business activity with not
				more than $10,000,000 in annual gross sales, and does not include a business
				that is a division or subsidiary of a larger parent company that does not
				qualify as a small business;
(5)
				"wraparound financing" means a contract that includes the balance due on an
				existing debt and an additional amount to cover the difference between the
				selling price and the existing debt;
(6) "director" means the director of the
				division assigned economic development functions or its successor agency in the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.010 - Application process

Current through May 31, 2024
(a) To apply for an assumption of a mining
				loan, an applicant shall file with the department
(1) a completed application for a mining loan
				assumption, on a form provided by the department;
(2) an individual financial statement from
				the applicant and from each person owning 10 percent or more of the mining
				firm, on a form provided by the department;
(3) a business financial statement, on a form
				provided by the department;
(4) an
				actual statement of profit and loss, on a form provided by the
				department;
(5) a projected
				statement of profit and loss on a form provided by the department;
(6) a personal resume from the applicant, the
				business manager, and each person owning 10 percent or more of the mining firm,
				on a form provided by the department;
(7) a mining resume from the
				applicant;
(8) a signed credit
				authorization, on a form provided by the department;
(9) signed copies of the applicant's federal
				income tax returns for the preceding three years, including returns for each
				member of a partnership or other association;
(10) an earnest money agreement explaining
				all terms and conditions of the transaction with signatures by all
				parties;
(11) a $100 nonrefundable
				application fee; and
(12) any other
				information that might be helpful to the applicant in qualifying for an
				assumption, as requested by the department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.015 - Examination

Current through May 31, 2024
(a) The materials described in
				3 AAC 87.010 will be processed and evaluated by a loan
				officer. The loan officer will evaluate the applicant's financial and credit
				history, operating plan, ability to repay, and proposed collateral.
(b) On the basis of the evaluation, the loan
				officer will either inactivate the application, due to lack of information
				required under
				3 AAC 87.010, or recommend proposed action on the loan
				request to the appropriate loan committee; however, the recommendation of a
				loan officer is not binding on a loan committee.
Authority:
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.020 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				persons appointed by the director to act on a request for an
				assumption.
(b) A loan committee
				may approve, deny, or modify and approve a request for an assumption, or may
				table a loan request subject to obtaining additional information.
(c) A loan committee may impose reasonable
				conditions on the approval of an assumption, including
(1) additional collateral to secure the
				loan;
(2) additional guarantors;
				and
(3) subordination of prior
				lienholders' rights to the interests of the state.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.040 - Financial and credit record

Current through May 31, 2024
(a) The department
				will, in its discretion, consider the following factors in evaluating an
				applicant's financial and credit record:
(1)
				existing and prior debts;
(2)
				credit reports obtained from creditors and private credit reporting
				services;
(3) prior loan history
				with the department;
(4) timeliness
				in making payments on loans and other debts;
(5) bankruptcies;
(6) existence of tax liens;
(7) judgments and foreclosures; and
(8) financial and credit
				reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.045 - Ability to repay

Current through May 31, 2024
The department will, in its discretion, consider the
				  following factors in evaluating an applicant's ability to repay a proposed
				  assumption:
(1) income history,
				including present income;
(2)
				prospects for future income;
(3)
				assets and their liquidity;
(4)
				liabilities;
(5) reasonableness of
				projected profit and loss statement; and
(6) other relevant experience.
Authority:
AS
					 27.09.040
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.070 - Supervision of loans

Current through May 31, 2024
If the loan is in default, the department will, in its
				  discretion, require a borrower to furnish annual financial statements
				  consisting of a balance sheet, profit and loss statement, source and
				  application of all money received and a schedule of change of owner's equity.
				  The department will, in its discretion, require an audit or audits to determine
				  whether the borrower has complied with the provisions of the loan, and conduct
				  periodic inspection of collateral securing repayment of the
				  loan.
Authority:
AS
					 27.09.040
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.075 - Costs

Current through May 31, 2024
(a) All expenses incurred by the department
				in processing an application must be paid by the applicant. These expenses
				include the cost of title reports and insurance, recording fees, appraisals,
				surveys, travel, and other direct costs.
(b) An assumption fee of one percent of the
				loan balance is due from the borrower when all applicable provisions of this
				chapter have been met.
(c) A late
				fee not to exceed five percent of the payment amount will, in the department's
				discretion, be charged to a borrower for each loan payment that is more than 15
				days past due.
(d) An extension fee
				not to exceed $100 will, in the department's discretion, be charged to a
				borrower to process a loan extension.
Authority:
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.080 - Assumptions

Current through May 31, 2024
(a) A request to assume the obligations and
				benefits of a loan made under AS 27.09 and this chapter will be processed in
				the same manner as a loan request.
(b) A loan committee may permit an assumption
				if the applicant is a good financial risk and the security of the state's
				investment is preserved.
(c)
				Wraparound financing that includes a loan made under AS 27.09 and this chapter
				is prohibited, and constitutes a default on the loan.
Authority:
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.081 - Closing an assumption

Current through May 31, 2024
An assumption agreement will be considered by the department
				  to be closed when
(1) all required
				signatures have been obtained and the assumption agreement has been properly
				recorded;
(2) all requirements of
				the loan committee have been met; and
(3) the borrower is in compliance with all
				provisions of the loan documents, including insurance requirements and this
				chapter.
Authority:
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.082 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under AS 27.09 and this chapter will be processed in the same manner as a
				loan application. The department will, in its discretion, require one or more
				of the items specified in
				3 AAC 87.010.
(b) A loan committee may permit a loan
				modification only if the security of the state and its investment is
				preserved.
Authority:
AS
					 27.09.040
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.085 - Reconsideration of an assumption request

Current through May 31, 2024
(a) If an
				assumption of a loan request is denied, inactivated, or significantly modified
				by the department, an applicant may file a written request for reconsideration
				within 30 days after receipt of notice of the department's decision.
(b) The department will, in its discretion,
				reconsider a request upon a showing by the applicant that
(1) there has been a substantial change in
				the circumstances leading to the department's decision;
(2) additional relevant information can be
				provided to the department that was not initially available; or
(3) administrative errors were made by the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.090 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record including deeds of trust, financing statements, warranty deeds,
				bills of sale, mortgages, liens, and vehicle titles;
(2) general information regarding loans,
				including the original loan amount, loan terms, personal guarantees, and
				disbursement and repayment schedules;
(3) insurance matters, including title
				insurance policies and correspondence with insurance companies or borrowers
				regarding losses, accident reports, and nonpayment of premiums; and
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 87 - Mining Loans › 3 AAC 87.900 - Definitions

Current through May 31, 2024
Unless the context requires otherwise, in this chapter
(1) repealed 8/10/97;
(2) "default" includes a violation of any
				provision of AS 27.09, this chapter, or the loan documents, failure to make the
				necessary payment within 15 days after it is due, or failure to maintain the
				insurance required by the department;
(3) "department" means the Department of
				Commerce, Community, and Economic Development;
(4) "mining" means the extraction of ore and
				preparation of a mineral product for market;
(5) "residency" means, in the case of an
				individual, physical presence in Alaska with the intent to remain indefinitely
				and make a home in the state;
(6)
				"wraparound financing" means a contract that includes the balance due on an
				existing debt and an additional amount to cover the difference between the
				selling price and the existing debt; and
(7) "director" means the director of the
				division assigned economic development functions or its successor agency in the
				department.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 27.09.050
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 11 - Miscellaneous › Chapter 90 - Emergency Rent Review › 3 AAC 90.010 - Application of chapter

Current through May 31, 2024
This chapter applies to all residential housing
				  accommodations, as defined in
				  3 AAC 90.150, the property is located in an area
				  declared by the governor to be in a state of housing emergency, pursuant to AS
				  34.06.020. Except as provided in
				  3 AAC 90.115, nothing in this chapter affects
				  application of the Uniform Residential Landlord and Tenant Act (AS 34.03). The
				  following are exempt from the provisions of this chapter:
(1) the first rent assessed and collected
				upon the initial occupancy of a residential housing accommodation;
(2) evictions from or rent charged for
				transient occupancy in hotels, motels and motor inns, as defined in
				3 AAC 90.150;
(3) evictions from or rent charged in federal
				or state-owned or subsidized residential housing accommodations where the
				amount of rent charged is regulated by a public authority; and
(4) evictions from or rent charged in
				residential housing accommodations provided by a landlord to his employees
				whose right to occupancy is conditioned upon his employment for his
				landlord.
Authority:
AS 34.06.020
AS 34.06.030
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 11 - Miscellaneous › Chapter 90 - Emergency Rent Review › 3 AAC 90.020 - Procedure for increase in rent

Current through May 31, 2024
Before imposing any rental increase for a unit, a landlord
				  shall deliver to a current tenant a signed, dated notice of the proposed
				  increase at least 30 days before its effective date which shall be the next
				  regularly scheduled due date. A landlord shall deliver such a notice in writing
				  to a prospective tenant before the landlord-tenant relationship is created. The
				  notice shall state
(1) the amount of
				the proposed increase and its effective date;
(2) the specific reasons for the increase;
				and
(3) the tenant's right to
				present the matter to the board within 15 days, and that the tenant is not
				subject to eviction or other retaliatory conduct on the part of the landlord
				for the tenant's pursuit of rights and remedies under the rent review statutes
				and regulations.
Authority:
AS
					 34.06.030