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2018 Alaska Statutes
Title 44. State Government
Chapter 88. Alaska Industrial Development and Export Authority
Article 6. Business and Export Assistance Program.
Sec. 44.88.550. Interest on guaranteed loan.
Universal Citation: AK Stat § 44.88.550 (2018)
(a) The maximum interest rate that may be charged by a financial institution on a loan guaranteed by the authority is two and three-quarters percentage points above the prime rate.
(b) If provision is made in the loan guarantee agreement, the interest rate on a loan guaranteed by the authority may increase or decrease in accordance with the changes in the prime rate.
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