Alaska Statutes: AS 16.10.507. Foreclosure Expense Account.

Alaska Statutes. Title 16. Fish and Game Chapter 10. Fisheries and Fishing Regulations Section 507. Foreclosure Expense Account.

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AS 16.10.507. Foreclosure Expense Account.

(a) There is established as a special account within the fisheries enhancement revolving loan fund the foreclosure expense account. This account is established as a reserve from fund equity.
(b) The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state's security interest in collateral on loans made under AS 16.10.520 or to defray expenses incurred during foreclosure proceedings after a default by an obligor.

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