Alaska Statutes Title 44, Chapter 44.81 - Commercial Fishing and Agriculture Bank

• Sec. 44.81.010 Alaska Commercial Fishing and Agriculture Bank.
  (a) There is established the Alaska Commercial Fishing and Agriculture Bank. The exercise by the bank of the powers conferred by this chapter is...
• Sec. 44.81.020 Board of Directors.
  (a) The bank shall be governed by a board of directors consisting of seven to nine natural persons. The number is determined by the...
• Sec. 44.81.030 Articles of Incorporation. [Repealed, Sec. 66 Ch 21 Sla 1985].
  Repealed or Renumbered
• Sec. 44.81.031 Officers and Employees.
  (a) The board shall employ a president. The president may not be a member of the board and serves at the pleasure of the...
• Sec. 44.81.040 Bylaws. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.041 Structure and Membership of the Bank.
  (a) The bank shall be structured and operated as a cooperative corporation.(b) The board shall issue shares of membership stock in the bank in...
• Sec. 44.81.050 Membership Meetings. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.051 Bylaws.
  The board may adopt bylaws for the bank for the regulation and management of the affairs of the bank, and may alter, amend, or...
• Sec. 44.81.060 Membership Stock. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.061 Indemnification of Directors, Officers, and Employees.
  The bank may indemnify directors, officers, and employees, or may purchase and maintain insurance on behalf of directors, officers, and employees. The indemnification and...
• Sec. 44.81.070 President; Officers and Employees. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.080 Exempt Status. [Repealed, Sec. 10 Ch 109 Sla 1981].
  Repealed or Renumbered
• Sec. 44.81.090 , 44.81.100. Term of Office and Removal; Quorum. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.101 Pledge of the State.
  (a) The state pledges to and agrees with any lender to the bank that the state will not limit or alter the rights and...
• Sec. 44.81.110 Compensation of Board Members. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.120 - 44.81.150. Bonds of the Bank; Trust Indentures and Trust Agreements; Validity of Pledges; Nonliability on Bonds. [Repealed, Sec. 10 Ch 109 Sla 1981].
  Repealed or Renumbered
• Sec. 44.81.160 Pledge of the State. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.170 - 44.81.180. Exemption From Taxation; Bonds Legal Investments for Fiduciaries. [Repealed, Sec. 10 Ch 109 Sla 1981].
  Repealed or Renumbered
• Sec. 44.81.190 Conflicts of Interest. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.200 Reports and Publications.
  The board shall publish an annual report to the bank's members. The report shall be made available to the governor, the legislature, and the...
• Sec. 44.81.210 General Powers of the Bank.
  The bank may(1) adopt, alter, and use a corporate seal;(2) sue and be sued in the name of the bank;(3) appoint officers, employees, trustees...
• Sec. 44.81.215 Lending Powers of the Bank.
  (a) The bank may(1) make loans to individuals, including married couples, who are residents of the state and who are engaged in commercial agriculture...
• Sec. 44.81.220 Transition. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.225 Small Loans to Nonmembers.
  (a) To facilitate the development of commercial fisheries and commercial agriculture in geographic areas in which factors such as geographic considerations, uncertainties of communication,...
• Sec. 44.81.230 Loans for Purchase of Alaska Limited Entry Permits. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.231 Pledge of Permits.
  (a) A limited entry permit issued under AS 16.43 may be pledged by the holder as security for a loan authorized under AS 44.81.236...
• Sec. 44.81.235 Limitations on Pledge of Permits. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.236 Limitations on the Pledge of Permits.
  A loan may not be secured by the pledge of a limited entry permit unless the proceeds of the loan are used for(1) the...
• Sec. 44.81.240 Default and Foreclosure of Certain Loans Secured by Limited Entry Permits. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.241 Initial Notice of Default.
  If there is a default on a loan secured by a permit pledged under AS 44.81.231 , the bank shall notify the borrowers and...
• Sec. 44.81.243 Bank Remedies After Failure to Cure.
  If the borrowers and guarantors on a loan secured by a permit pledged under AS 44.81.231 fail to cure a default within the time...
• Sec. 44.81.245 Foreclosure.
  The bank may foreclose on a permit pledge that secures a loan by sending to the equitable owner of the permit pledged and any...
• Sec. 44.81.247 Termination of Permit Interest.
  (a) If a loan is not paid in full within the time specified by the notice provided for the loan under AS 44.81.245 ,...
• Sec. 44.81.249 Cancellation, Extension, and Delivery of Notices.
  (a) The bank may cancel a notice provided under AS 44.81.241 or 44.81.245 by delivering a written notice of cancellation to the persons who...
• Sec. 44.81.250 Transfer of Entry Permits After Foreclosure.
  (a) Upon foreclosure of a pledge of an entry permit under AS 44.81.241 - 44.81.249 or the termination of a debtor's interest in an...
• Sec. 44.81.260 Confidentiality of Records.
  (a) The records of the bank that are identified with, or identifiable as being derived from the records of, a specific borrower, member of...
• Sec. 44.81.270 Audits and Examinations of Bank.
  (a) The legislative auditor may cause the bank to be audited in the manner and under the conditions established by AS 24.20.271 for audits...
• Sec. 44.81.275 Examinations.
  (a) At intervals that are not greater than 36 months, an examiner from the department shall perform an examination of the bank. Each interval...
• Sec. 44.81.280 Prohibition on Disclosure. [Repealed, Sec. 27 Ch 34 Sla 1996].
  Repealed or Renumbered
• Sec. 44.81.300 Unclaimed Distributions, Redemptions, or Payments.
  The bank may revoke a distribution of net proceeds by the bank or a redemption of or payment based upon an allocation of proceeds...
• Sec. 44.81.350 Definitions.
  In this chapter,(1) "bank" means the Alaska Commercial Fishing and Agriculture Bank;(2) "commercial agriculture" includes commercially related activity in connection with producing, harvesting, processing,...

Last modified: November 15, 2016