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Sec. 44.33.960. Eligibility.

AK Stat § 44.33.960 (2019) (N/A)
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(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.

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Sec. 44.33.955. Powers and duties of the department.
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Sec. 44.33.965. Limitations on loans.