Alaska § 44.33.255 - Loan terms.
Full text of Alaska Alaska Statutes § 44.33.255 — Loan terms., with citation guidance and answers to common questions.
§ 44.33.255. Loan terms.
(a) A loan to a child care facility under AS 44.33.240 — 44.33.275 may not exceed $50,000.
(b) The rate of interest charged shall be seven percent a year on the unpaid balance of the loan.
(c) The duration for repayment of a loan may not exceed 20 years.
(d) All principal and interest payments, and any money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 44.33.240 — 44.33.275, shall be paid into the child care facility revolving loan fund.
(e) If a child care facility ceases operation, any loan to the facility from the fund is due on the date the facility ceases operation.
Frequently Asked Questions About Alaska § 44.33.255
What does Alaska Statutes § 44.33.255 cover?
Section 44.33.255 ("Loan terms.") 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 § 44.33.255?
A common citation format is "Alaska Statutes § 44.33.255" (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 § 44.33.255 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.