Sec. 44.33.960. Eligibility.

184 words·~1 min read·/ak/title-44/chapter-33/44-33-960

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)For an applicant to be eligible for a loan under AS 44.33.950 — 44.33.990, the applicant shall

(1)be a resident of the state, as determined under

(b)of this section;

(2)provide a reasonable amount of money from other nonstate sources for use on any project or enterprise for which money from a loan will be used; and

(3)if the requested loan amount is more than $35,000, provide to the department a document from a state financial institution stating that

(A)the applicant has been denied a loan for the same purpose; or

(B)a loan from the financial institution is contingent on the applicant also receiving a loan from the fund.

(b)To meet the residency requirements of

(a)of this section, the applicant

(1)shall physically reside in this state and maintain a domicile in this state during the 12 consecutive months preceding the date of application for the program; and

(2)may not have

(A)declared or established residency in another state; or

(B)received residency or a benefit based on residency from another state.