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Code · Alaska · Title 44 · Chapter 88

Sec. 44.88.550. Interest on guaranteed loan.

69 words·~1 min read·/ak/title-44/chapter-88/44-88-550

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Sec. 44.88.550. Interest on guaranteed loan.
(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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