Alaska Stat. § 10.25.430
This is the official text of Alaska Stat. § 10.25.430, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Validity of mortgage under Rural Electrification Act.
Official statutory text
A mortgage made by a cooperative organized under this chapter to the United States of America, or an agency or instrumentality of it, to secure indebtedness incurred under 7 U.S.C. 901 950bb-2 (Rural Electrification Act ), as amended, is not void as against creditors of the mortgagor and subsequent purchasers and encumbrancers of the property in good faith for value because the mortgage is not accompanied by an affidavit of the parties to it, or an affidavit of the agent or attorney-in-fact of a party to it, that the mortgage is made in good faith to secure the amount named, and without a design to hinder, delay or defraud creditors. A mortgage made by a cooperative organized under this chapter to the United States of America, or an agency or instrumentality of it to secure indebtedness incurred under 7 U.S.C. 901 950bb-2 (Rural Electrification Act ), as amended, need not set out the date upon which the indebtedness secured by it becomes due.
Status: in_force · Read it on the official government site
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