Alaska § 45.81.130 - Limitations on loans.
Full text of Alaska Alaska Statutes § 45.81.130 — Limitations on loans., with citation guidance and answers to common questions.
§ 45.81.130. Limitations on loans.
(a) State participation in a loan to a business may not be more than $3,000,000.
(b) The loan shall be secured by acceptable collateral and may not exceed 75 percent of the appraised value of the collateral offered as security.
(c) The rate of interest may not exceed nine and one-half percent a year on the unpaid balance of the state's share of the loan.
(d) A loan of $150,000 or more under AS 45.81.100 — 45.81.190 must be participated in by a financial institution in an amount which is not less than 20 percent of the total amount of the loan. A loan of less than $150,000 does not require participation by a financial institution.
(e) The participating financial institution shall administer and service the loan for a reasonable fee not exceeding one-half of one percent.
(f) The lien of the state is a first lien to the extent of its portion of the total loan and the participating financial institution shall have a first lien to the extent of its portion of the total loan.
Frequently Asked Questions About Alaska § 45.81.130
What does Alaska Statutes § 45.81.130 cover?
Section 45.81.130 ("Limitations on loans.") 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 § 45.81.130?
A common citation format is "Alaska Statutes § 45.81.130" (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 § 45.81.130 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.