Section 16.10.900. Mariculture revolving loan fund.

   (a) The mariculture revolving loan fund is created within the Department of Commerce, Community, and Economic Development to carry out the purposes of AS 16.10.900 - 16.10.945.
   (b) The mariculture revolving loan fund consists of the following:
        (1) money appropriated to, transferred to, or received by gift, grant, devise, bequest, or donation to the fund;
        (2) principal and interest payments or other income earned on loans or investments of the fund; and
        (3) money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 16.10.900 - 16.10.945.
   (c) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 16.10.900 - 16.10.945.

Authorities

16.10.900;16.10.905;16.10.910;16.10.915;16.10.935;16.10.945

Notes

References

3 AAC 80.410
3 AAC 80.450
3 AAC 80.460
3 AAC 80.470
AS 16.10.900 Mariculture revolving loan fund.
AS 16.10.905 Powers and duties of the department.
AS 16.10.910 Eligibility.
AS 16.10.915 Limitations on loans.
AS 16.10.935 Disposal of property acquired after default.
AS 16.10.945 Definitions.

History

(Sec. 12 ch 58 SLA 2012)