Sec. 16.10.325. Guarantors.
A person may act as guarantor if the borrower has insufficient collateral to secure a loan for the purposes described in AS 16.10.310(a)(1)(B) or (C). The loan agreement shall specifically describe the property of the guarantor to be used as collateral by the borrower and shall be signed by the guarantor and the borrower. The […]
Sec. 16.10.333. Loans for purchase of Alaska limited entry permits.
(a) Loans under AS 16.10.310(a) may be made to an individual commercial fisherman for the purchase of a limited entry permit upon certification by the commission that the fisherman is a person who qualifies as a transferee for the permit under AS 16.43 and the regulations adopted by the commission. (b) Upon approval by the […]
Sec. 16.10.335. Default and foreclosure.
(a) If the debtor defaults upon a note for which a limited entry permit has been pledged as security under AS 16.10.333 or 16.10.338, the commissioner shall provide the debtor, by both certified and first class mail sent to the debtor’s last known address on file with the commissioner, with a notice of default that […]
Sec. 16.10.337. Deficiencies and transfer of entry permits after foreclosure.
(a) Upon a foreclosure on an entry permit as provided in AS 16.10.335 or the termination of a debtor’s interest in an entry permit under AS 16.10.335(g), the commissioner shall offer the commission a right of first refusal if the permit is subject to a buy-back program under AS 16.43.290 – 16.43.330 at a price […]
Sec. 16.10.338. Entry permits as collateral.
(a) Alaska limited entry permits may be used as security for loans under AS 16.10.310(a). The provisions of AS 16.10.335 and 16.10.337 apply to Alaska limited entry permits pledged as security for loans in accordance with this section. (b) If a limited entry permit is pledged for security for a loan made under AS 16.10.310(a)(1)(B) […]
Sec. 16.10.339. Regulations.
The department shall adopt regulations to implement AS 16.10.333 – 16.10.337.