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- Alaska Statutes.
- Title 18. Health, Safety, Housing, Human Rights, and Public Defender
- Chapter 56. Alaska Housing Finance Corporation
- Section 450. Operating Loss Reserve Account.
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Section 440. Limitations On Use of Housing Assistance Loan Program.
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Section 460. Security For Loans.
AS 18.56.450. Operating Loss Reserve Account.
(a) There is established an operating loss reserve account for the purpose of meeting legal expenses incurred through the
foreclosure of properties acquired by the corporation under AS 18.56.400(6) and making repairs to these properties so that they
may be sold to new buyers.
(b) The operating reserve loss account consists of money appropriated to it by the legislature and deposited in it by the
corporation. To the extent that money is paid out of the operating loss reserve account for the purposes stated in this
section, this money shall be replaced with money received as interest on loans authorized by AS 18.56.400 - 18.56.600.
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