Section 44.33.655. Alaska capstone avionics revolving loan fund.

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   (a) There is created in the Department of Commerce, Community, and Economic Development a revolving loan fund to be known as the Alaska capstone avionics revolving loan fund to carry out the purposes of AS 44.33.650 - 44.33.690.
   (b) The Alaska capstone avionics revolving loan fund consists of the following:
        (1) money appropriated to, transferred to, or received by gift, devise, bequest, or donation to the fund;
        (2) principal and interest payments or other income earned on loans or investments of the fund;
        (3) money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 44.33.650 - 44.33.690.
   (c) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 44.33.650 - 44.33.690.

Notes

History

(Sec. 1 ch 15 SLA 2008)

                    
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