Alaska Statutes Title 16, Chapter 16.10, Article 14 - Mariculture Revolving Loan Fund

• Sec. 16.10.900 Mariculture Revolving Loan Fund.
  (a) The mariculture revolving loan fund is created within the Department of Commerce, Community, and Economic Development to carry out the purposes of AS...
• Sec. 16.10.905 Powers and Duties of the Department.
  The department may(1) make loans to eligible applicants under AS 16.10.900 - 16.10.945 for the planning, construction, and operation of a mariculture business;(2) receive,...
• Sec. 16.10.910 Eligibility.
  (a) For an applicant to be eligible for a loan under AS 16.10.900 - 16.10.945, the applicant shall(1) be a resident of the state,...
• Sec. 16.10.915 Limitations on Loans.
  (a) Except as provided in (b) and (c) of this section, a loan under AS 16.10.900 - 16.10.945(1) may not exceed $100,000 a year;(2)...
• Sec. 16.10.920 Repayment of Principal of and Interest on Loans.
  The department may not require the repayment of principal and interest on a loan made under AS 16.10.910 during the first six years of...
• Sec. 16.10.925 Default.
  If the borrower defaults on a note, the department shall notify the borrower of the default and the consequences of default by mailing a...
• Sec. 16.10.930 Special Account Established.
  (a) The foreclosure expense account is established as a special account in the mariculture revolving loan fund.(b) The department may expend money credited to...
• Sec. 16.10.935 Disposal of Property Acquired After Default.
  The department shall dispose of property acquired through default of a loan made under AS 16.10.900 - 16.10.945. Disposal must be made in a...
• Sec. 16.10.940 Waiver of Confidentiality.
  The commissioner may release information about the borrower's loan to any individual if release of the information has been authorized by the borrower.
• Sec. 16.10.945 Definitions.
  In AS 16.10.900 - 16.10.945,(1) "commissioner" means the commissioner of commerce, community, and economic development;(2) "department" means the Department of Commerce, Community, and Economic...

Last modified: November 15, 2016