Section 37.17.500. Purposes of Alaska BIDCO assistance program.

The purposes of AS 37.17.500 - 37.17.690 include
        (1) administering the Alaska BIDCO assistance program related to loans and other financial assistance made or provided under AS 37.17.500 - 37.17.690;
        (2) assisting in the formation and capitalization of one or more BIDCOs that have a highly qualified management team and a good business plan, and that are designed to operate in a profit-oriented, market-disciplined manner, with excellent prospects for long-term financial success and viability;
        (3) promoting economic development by providing a new source of risk capital and management assistance for businesses, especially small- and medium-sized businesses, in geographic areas throughout the state, including businesses in rural areas and distressed areas, and including minority-owned businesses;
        (4) using state resources to attract other capital resources; and
        (5) promoting the successful operation of BIDCOs.

Authorities

10.13.040;37.10.085;37.17.500;37.17.510;37.17.520;37.17.530;37.17.540;37.17.590;37.17.600;37.17.650;37.17.660;37.17.690;44.33.020

Notes

References

AS 10.13.040 Requisite net worth.
AS 37.10.085 Financial aid to corporations by state or political subdivision.
AS 37.17.500 Purposes of Alaska BIDCO assistance program.
AS 37.17.510 Alaska BIDCO fund.
AS 37.17.520 Use of money in Alaska BIDCO fund.
AS 37.17.530 BIDCO capitalization loans.
AS 37.17.540 Loan commitment conditions.
AS 37.17.590 Implementation of BIDCO capitalization loan program.
AS 37.17.600 Terms of BIDCO capitalization loans.
AS 37.17.650 Confidentiality.
AS 37.17.660 Subsequent loans.
AS 37.17.690 Definitions.
AS 44.33.020 Duties of department; regulations.

History

(Sec. 5 ch 2 SLA 2004)