To be eligible for a loan under AS 45.88.010 - 45.88.090, an applicant must
(1) physically reside in the state and maintain a domicile in the state during 12 consecutive months before the date of application for a loan and may not have
(A) declared or established residency in another state; or
(B) received residency or a benefit based on residency from another state;
(2) be at least 51 percent owned by individuals described in (1) of this section if the applicant is a corporation, joint venture, or partnership; or
(3) be a nonprofit organization under AS 10.20.
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