(a) The maximum interest rate that may be charged by a financial institution on a loan guaranteed by the authority is two and three-quarters percentage points above the prime rate.
(b) If provision is made in the loan guarantee agreement, the interest rate on a loan guaranteed by the authority may increase or decrease in accordance with the changes in the prime rate.
Structure Alaska Statutes
Chapter 88. Alaska Industrial Development and Export Authority
Article 6. Business and Export Assistance Program.
Sec. 44.88.500. Business and export assistance guarantees.
Sec. 44.88.502. Effect of guarantee.
Sec. 44.88.505. Qualifications of applicant for new loan guarantee.
Sec. 44.88.510. Application for new loan guarantee.
Sec. 44.88.515. Qualifications of applicant for debt refinancing guarantee.
Sec. 44.88.520. Application for debt refinancing guarantee.
Sec. 44.88.525. Conditions of debt refinancing guarantee.
Sec. 44.88.530. Applicability of AS 44.88.535 - 44.88.560.
Sec. 44.88.535. Conditions of loan guarantee.
Sec. 44.88.540. Limitations of guarantees.
Sec. 44.88.545. Limitations of guarantees with respect to borrowers.
Sec. 44.88.550. Interest on guaranteed loan.
Sec. 44.88.555. Servicing of guaranteed loans.
Sec. 44.88.560. Powers of the authority.