Sec. 06.65.030. Modification of program.
Consistent with this chapter and the federal authorizing law, the department may modify the terms and conditions of the program as the department considers necessary or desirable for the effective and efficient operation of the program.
Sec. 06.65.040. Additional department powers.
The department may (1) set fees the department considers necessary or desirable for program transactions and services; and (2) develop marketing plans and materials to promote the benefits of the program that are available to contributors under the program and to beneficiaries under the program.
Sec. 06.65.050. Contracting authority; procurement exemption.
(a) The department may contract with a person to advise and assist in the implementation and operation of the program. (b) The department may contract with a person to provide services for the program. (c) The department may enter into a contract with other states to obtain or provide the services for implementing the program. […]
Sec. 06.65.060. Investment oversight.
The department shall (1) oversee and approve the selection of investment managers and advisors for the program; (2) oversee all aspects of the program’s investments and investment performance and decisions regarding the investment of program assets; and (3) oversee all investment disclosure documents and regulatory filings related to program investments.
Sec. 06.65.070. Financial contractor obligations.
In addition to any other obligations imposed by the contract with the department, if the department enters into a contract with a person to provide program accounts, the financial contractor shall (1) provide program accounts that comply with the federal authorizing law; (2) take the action necessary to keep the program in compliance with the […]
Sec. 06.60.640. Defense of claim.
When the department receives a fund claim, the department shall allow each mortgage loan originator licensee against whom the claim is made an opportunity to file with the department, within seven days after receipt of notification of the fund claim under AS 06.60.600, a written statement in opposition to the fund claim and a request […]
Sec. 06.60.860. Authority of department.
The department may make a ruling, demand, or finding that the department determines is necessary for the proper conduct of a licensee’s business regulated by this chapter or for the enforcement of this chapter, including an order for the payment of restitution. The ruling, demand, or finding must be consistent with this chapter.
Sec. 06.60.650. Standard of proof.
A person who submits a fund claim under AS 06.60.570 bears the burden of establishing by a preponderance of the evidence that the person suffered a loss in a mortgage loan transaction as a result of fraud, misrepresentation, deceit, or the conversion of trust funds by a mortgage loan originator licensee and the extent of […]
Sec. 06.60.660. Postponement.
The department may postpone its consideration of a fund claim until after a hearing under AS 06.60.200 or 06.60.590 or until the completion of a pending court proceeding.
Sec. 06.60.670. Nonapplication.
AS 06.60.630 – 06.60.660 do not apply to a fund claim that is dismissed under AS 06.60.610.