Alaska § 06.05.211 - Loans secured by forest tracts.
Full text of Alaska Alaska Statutes § 06.05.211 — Loans secured by forest tracts., with citation guidance and answers to common questions.
§ 06.05.211. Loans secured by forest tracts.
(a) A bank may, subject to the requirements of this chapter, make or acquire a loan secured by a first lien on a forest tract if (1) the making of the loan is consistent with written lending policies of the bank and regulations adopted by the department;
(2) before the loan is made or acquired, the bank secures and maintains in its files evidence of a determination of the value of the property; and
(3) the loan is secured by an amortized mortgage, deed of trust, or assignment of a federal or state timber sale contract.
(b) The aggregate of all loans made or acquired by a bank under this section may not exceed 50 percent of its combined capital, surplus, and undivided profits.
(c) In this section, “forest tract” means a reasonably accessible tract of land primarily covered with marketable or potentially marketable growing timber having a recognized commercial value, which is safeguarded by fire protection, insect, pest, and disease control.
Frequently Asked Questions About Alaska § 06.05.211
What does Alaska Statutes § 06.05.211 cover?
Section 06.05.211 ("Loans secured by forest tracts.") 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 § 06.05.211?
A common citation format is "Alaska Statutes § 06.05.211" (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 § 06.05.211 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.