15 AAC 151.220. Duty in armed forces

(a) A person is a qualified veteran for purposes of the veterans' home mortgage program if the person satisfies the requirements of (b) of this section and if the person has served on full-time duty, other than for training, in the United States Army, Navy, Marine Corps, Air Force, or Coast Guard or in a reserve component of the United States Army, Navy, Marine Corps, Air Force, or Coast Guard.

(b) In addition to the requirements of (a) of this section, a person is a qualified veteran for purposes of the state guaranteed veterans' home mortgage program if the person:

(1) was on active duty prior to January 1, 1977;

(2) was not discharged from active duty more than 30 years prior to the date of closing;

(3) if retired, discharged, or released from the duty described in (a) of this section, separation must have been under conditions other than dishonorable; and

(4) if not retired, discharged, or released from the duty described in (a) of this section:

(A) has completed his or her initial period of duty; and

(B) would have been entitled to a discharge or release under conditions other than dishonorable at the end of his or her initial period of duty.

History: Eff. 5/7/93, Register 130

Authority: AS 18.56.088

AS 18.56.098

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