Sec. 18.56.400. Powers of corporation related to housing assistance.

223 words·~1 min read·/ak/title-18/chapter-56/18-56-400

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The board may

(1)adopt regulations in accordance with AS 18.56.088 to implement AS 18.56.400 — 18.56.600;

(2)make and execute agreements, contracts, and other instruments necessary or convenient in the exercise of the powers and functions granted under AS 18.56.400 — 18.56.600;

(3)purchase or participate in the purchase of small community housing mortgage loans under AS 18.56.400 — 18.56.600;

(4)purchase or participate in the purchase of loans for building materials for small community housing under AS 18.56.400 — 18.56.600;

(5)procure insurance against loss in connection with the corporation's functions under AS 18.56.400 — 18.56.600;

(6)acquire real or personal property, or an interest in real or personal property, by purchase, transfer, or foreclosure, when the acquisition is necessary or appropriate to protect a loan in which the corporation has an interest; sell, transfer and convey that property to a buyer; and, if the sale, transfer or conveyance cannot be effected with reasonable promptness or at a reasonable price, rent or lease the property to a tenant pending the sale, transfer or conveyance;

(7)do all acts necessary, convenient, or desirable to carry out the powers expressly granted or necessarily implied in AS 18.56.400 — 18.56.600;

(8)originate and service direct loans made to qualified buyers under AS 18.56.400 — 18.56.600.