20 AAC 15.860. Interest rates on consolidation loans

(a) On or after June 1 of each year, the corporation staff will announce the interest rate on loans made under AS 14.43.122 .

(b) The interest rate announced will be in effect for consolidation loans originated between July 1 of that year and June 30 of the following year.

(c) The interest rate will be based on the interest rate of the 10-year United States Treasury note auctioned at the final auction held before May 30 of the year, plus up to two percent for administrative costs, including consideration of costs listed in 20 AAC 15.855(c) .

History: Eff. 2/14/2003, Register 165; am 11/20/2005, Register 176

Authority: AS 14.42.150

AS 14.42.200

AS 14.42.210

Editor's note: The provisions of 20 AAC 15.860 originally took effect February 14, 2003 as emergency regulations, and were first published in Register 165 (April 2003). In reviewing the "permanent" regulations in accordance with AS 44.62.060 and 44.62.125(b), the regulations attorney disapproved the last sentence of 20 AAC 15.860(a) and made a technical change to that subsection. The disapproved language was omitted, and the technical change appeared, in the "permanent" regulation as it was published in Register 167 (October 2003). The history note for 20 AAC 15.860 does not reflect the changes made by the regulations attorney.

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