11 AAC 39.500. Agricultural disaster

(a) The board may determine that a borrower has experienced an agricultural disaster or declare that an agricultural disaster has adversely affected an area or agricultural industry in the state.

(b) When the board determines that a borrower has experienced an agricultural disaster, or declares that an agricultural disaster has affected an area or agricultural industry in the state, the board will issue a written decision that

(1) describes the circumstances giving rise to and the nature of the agricultural disaster;

(2) identifies the area, if any, in the state affected by the agricultural disaster;

(3) identifies the agricultural industry, if any, affected by the agricultural disaster;

(4) describes any pertinent loss of or damage to property or agricultural production;

(5) describes the adverse financial effect of the agricultural disaster on the borrower, the area, or the industry;

(6) identifies the type of loan eligible due to the disaster for restructure or payment moratorium under this chapter; and

(7) specifies the date by which an application for restructuring under As 03.10.033 or payment moratorium under 11 AAC 39.501 must be received by the board.

History: Eff. 6/1/2001, Register 158

Authority: AS 03.09.040

AS 03.10.020

AS 03.10.030

AS 03.10.050

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