It is the policy of the state, under AS 16.10.500 – 16.10.560, to promote the enhancement of the state’s fisheries by means of grants for organizational and planning purposes to regional associations described in AS 16.10.510 that have qualified under AS 16.10.380, and by means of long-term, low interest loans for hatchery planning, construction, and […]
(a) There is created within the Department of Commerce, Community, and Economic Development a revolving fund to be known as the fisheries enhancement revolving loan fund. Except as provided in (b) and (c) of this section, the fund shall be used to carry out the purposes of AS 16.10.500 – 16.10.560 and for no other […]
(a) There is established as a special account within the fisheries enhancement revolving loan fund the foreclosure expense account. This account is established as a reserve from fund equity. (b) The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state’s security interest in collateral on loans made under […]
The commissioner may (1) make loans to permit holders, under AS 16.10.400 – 16.10.470, including those holders issued permits before June 24, 1977, for the planning, construction, and operation of hatchery facilities; (2) make loans to qualified regional associations that have formed a nonprofit corporation or a local nonprofit corporation approved by a qualified regional […]
(a) A single fisheries enhancement loan may not exceed $10,000,000 for a hatchery or other enhancement or rehabilitation activity conducted under a permit granted to a qualified regional association that has formed a nonprofit corporation, or to a local nonprofit corporation approved by a qualified regional association. A loan for any other nonprofit hatchery corporation […]
The commissioner may not require the repayment of principal on a loan made under AS 16.10.510 for the initial period of the loan. Interest on the principal of a loan made under AS 16.10.510 does not accrue during the initial period of the loan. In this subsection, the “initial period of the loan” means a […]
(a) An association of persons who hold entry permits under AS 16.43, that consists of at least 51 percent of the persons holding entry permits and actively participating in a fishery to be benefited by a hatchery program, may levy and collect an assessment from among its members for the purpose of securing and repaying […]
The Department of Commerce, Community, and Economic Development shall dispose of property acquired through default or foreclosure of a loan made under AS 16.10.500 – 16.10.560. Disposal shall be made in a manner that serves the best interests of the state, and may include the amortization of payments over a period of years.
In AS 16.10.500 – 16.10.560, (1) “commissioner” means the commissioner of commerce, community, and economic development; (2) “hatchery” means a facility for the artificial incubation of salmon eggs, which may include means for the rearing of juvenile salmon.
