3 AAC 102.050 - Loan committee
(a) A loan committee consists of one or more
persons the authority's executive director appoints to act on a request for an
NMTC leverage loan product.
(b) A
loan committee shall consider the recommendations of the loan officer assigned
to process the application and any other relevant information. A loan committee
shall also consider the applicant's eligibility for NMTC financing, financial
and credit record, ability to repay, operating plan, and the adequacy of
collateral offered to secure the loan or guarantee.
(c) After considering a guarantee or loan
request as described in (b) of this section, a loan committee shall approve or
deny the request, approve the request subject to modification, or table the
request subject to obtaining additional information.
(d) A loan committee may impose reasonable
conditions on the approval of an NMTC leverage loan product, including
requiring additional guarantors.
(e) If a guarantee or loan request is denied,
significantly modified, or tabled by a loan committee, the loan committee shall
provide the applicant with a statement explaining reasons for the
action.
(f) An applicant's material
misstatement or omission of fact constitutes grounds for denial of a guarantee
or loan request.
Notes
Even though 3 AAC 102.050 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.
Authority:AS 44.88.085
AS 44.88.770
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