Sec. 16.10.350. Administration of fund.
(a) The commissioner shall administer the commercial fishing revolving loan fund. (b) The commissioner shall annually prepare a report detailing the number and nature of reinstatements authorized by AS 16.10.335(a)(5) and notify the legislature that the report is available.
Sec. 16.10.353. Waiver of confidentiality.
(a) The commissioner may release information about a borrower’s loan to any individual when release of the information has been authorized by the borrower. (b) A person obtaining a loan under AS 16.10.300 – 16.10.370 after June 28, 1991 may, by signing a form prepared for the purpose, designate the names of persons and organizations […]
Sec. 16.10.355. Disposal of property acquired by default or foreclosure.
The department shall dispose of property acquired through default or foreclosure of a loan made under AS 16.10.300 – 16.10.370 or former AS 16.10.650 – 16.10.720. 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, but may […]
Sec. 16.10.360. Definitions.
In AS 16.10.300 – 16.10.370, (1) “commission” means the Alaska Commercial Fisheries Entry Commission; (2) “commissioner” means the commissioner of commerce, community, and economic development; (3) “debtor” means an individual commercial fisherman who either initially contracts for a loan under AS 16.10.333 – 16.10.337 or assumes a loan as provided in those sections; (4) “department” […]
Sec. 16.10.370. Short title.
AS 16.10.300 – 16.10.370 may be cited as the Commercial Fishing Loan Act.
Sec. 16.10.339. Regulations.
The department shall adopt regulations to implement AS 16.10.333 – 16.10.337.
Sec. 16.10.340. Commercial fishing revolving loan fund.
(a) There is a commercial fishing revolving loan fund to carry out the purpose of AS 16.10.300 – 16.10.370. (b) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 16.10.300 – 16.10.370. (c) If the commissioner determines that the fund contains money that is excess to […]
Sec. 16.10.342. Foreclosure expense account.
(a) There is established as a special account within the commercial fishing revolving loan fund the foreclosure expense account. (b) [Repealed, § 72 ch 113 SLA 1982.] (c) The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state’s security interest in collateral on loans granted under AS 16.10.300 […]
Sec. 16.10.300. Declaration of policy.
It is the policy of the state, under AS 16.10.300 – 16.10.370, to promote the rehabilitation of the state’s fisheries, the development of a predominantly resident fishery, and the continued maintenance of commercial fishing gear and vessels throughout the state by means of long-term low interest loans.
Sec. 16.10.310. Powers of the department.
(a) The department may (1) make loans (A) to individual commercial fishermen who have been state residents for a continuous period of two years immediately preceding the date of application for a loan under AS 16.10.300 – 16.10.370, who have had an annual crewmember or commercial fishing license under AS 16.05.480 or a permit under […]