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Title 11 . Natural Resources
Chapter 39 . Agricultural Revolving Loan Fund
Section 71. Interest rates on loans

11 AAC 39.071. Interest rates on loans

(a) At least annually, the board will review and establish interest rates for new loans that are comparable to the rates charged by other agricultural lending institutions in the state for similar types of loans.

(b) The interest rate that will be charged on a new loan is the rate that is in effect on the date that the new loan is approved by the board or the emergency loan committee.

(c) The interest rate on a loan will not be adjusted if the loan is modified or assumed, except for the interest rate on an assumed restructured loan as provided under 11 AAC 39.610.

History: Eff. 6/1/2001, Register 158; am 10/27/2002, Register 164

Authority: AS 03.09.040

AS 03.10.020

AS 03.10.030

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Last modified 7/05/2006