Alaska § 03.10.035 - Use or disposal of mortgaged farm land.
Full text of Alaska Alaska Statutes § 03.10.035 — Use or disposal of mortgaged farm land., with citation guidance and answers to common questions.
§ 03.10.035. Use or disposal of mortgaged farm land.
(a) A borrower may not use farm land for a nonfarm use or sell, lease, or otherwise dispose of farm land if that land is encumbered by a mortgage given to secure the payment of a loan under this chapter unless the borrower either (1) pays the outstanding balance of the loan in a lump sum or under other terms agreed to by the Board of Agriculture and Conservation that accelerate payment of the loan; or
(2) pays the outstanding principal balance for the remaining term of the loan at the prevailing rate of interest that is charged by commercial banks in the state during the calendar quarter in which the board receives notice of the change of use, sale, lease, or other disposal of the farm land.
(b) In this section, “nonfarm use” means a use of land other than for the production of domesticated plants and animals useful to humans, including forage and sod crops, grain and feed crops, fruits, vegetables, and livestock.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 03.10.035
What does Alaska Statutes § 03.10.035 cover?
Section 03.10.035 ("Use or disposal of mortgaged farm land.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 03.10.035?
A common citation format is "Alaska Statutes § 03.10.035" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 03.10.035 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.