Alaska § 44.88.502 - Effect of guarantee.
Full text of Alaska Alaska Statutes § 44.88.502 — Effect of guarantee., with citation guidance and answers to common questions.
§ 44.88.502. Effect of guarantee.
(a) A guarantee under AS 44.88.500 — 44.88.599 does not create a debt or liability of the state.
(b) A guarantee under AS 44.88.500 may not be terminated, canceled, or revoked except under its terms. A guarantee held by a participating financial institution is presumed to be valid.
(c) A guarantee or portion of a guarantee under AS 44.88.500 that relates to an export transaction must guarantee against commercial and political loss, in whole or in part, of principal and interest. The authority may require the borrower to obtain insurance against some or all of the loss guaranteed under AS 44.88.500 . In this subsection, “political loss” means a loss incurred as a result of (1) a political risk that would be insurable under an export credit insurance policy issued by the Export-Import Bank of the United States; or
(2) any other political risk that is actually insured under insurance the authority requires the borrower to obtain.
Frequently Asked Questions About Alaska § 44.88.502
What does Alaska Statutes § 44.88.502 cover?
Section 44.88.502 ("Effect of guarantee.") 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 § 44.88.502?
A common citation format is "Alaska Statutes § 44.88.502" (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 § 44.88.502 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.