(a) A guarantee under AS 44.88.700 - 44.88.799 does not create a debt or liability of the state.
(b) A guarantee under AS 44.88.700(a)(1) may not be terminated, cancelled, or revoked except under its terms. A guarantee held by a participating financial institution is presumed to be valid.
Structure Alaska Statutes
Chapter 88. Alaska Industrial Development and Export Authority
Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program.
Sec. 44.88.700. New markets tax credit assistance guarantees and loans.
Sec. 44.88.710. Effect of guarantee.
Sec. 44.88.715. Qualifications of applicant for new loan guarantee.
Sec. 44.88.720. Application for loan guarantee.
Sec. 44.88.730. Conditions of loan guarantee.
Sec. 44.88.740. Servicing of guaranteed loans.
Sec. 44.88.750. New markets tax credit assistance leveraged loan.
Sec. 44.88.760. Limitations of guarantees and leveraged loans.