Section 16.10.905. Powers and duties of the department.

The department may
        (1) make loans to eligible applicants under AS 16.10.900 - 16.10.945 for the planning, construction, and operation of a mariculture business;
        (2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund;
        (3) establish amortization plans for repayment of loans, including extensions of the terms of loans;
        (4) allow an assumption of a loan if
             (A) the applicant meets the requirements established under this section; and
             (B) approval of the assumption would be consistent with the purposes of AS 16.10.900 - 16.10.945;
        (5) establish the rate of interest for loans consistent with law;
        (6) charge and collect fees for services provided under AS 16.10.900 - 16.10.945;
        (7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 16.10.900 - 16.10.945, including regulations to establish reasonable fees for services provided; and
        (8) designate agents and delegate powers as necessary to the agents.

Authorities

16.10.915

Notes

Implemented As

3 AAC 80.410
3 AAC 80.415
3 AAC 80.420
3 AAC 80.425
3 AAC 80.430
3 AAC 80.435
3 AAC 80.440
3 AAC 80.445
3 AAC 80.450
3 AAC 80.455
3 AAC 80.460
3 AAC 80.470
3 AAC 80.475
3 AAC 80.480
3 AAC 80.900

References

AS 16.10.915 Limitations on loans.

History

(Sec. 12 ch 58 SLA 2012)