Alaska Statutes Title 45, Chapter 45.81, Article 02 - Tourism Revolving Loan Fund

• Sec. 45.81.100 Creation of a Tourism Revolving Fund.
  (a) There is created in the Department of Commerce, Community, and Economic Development a tourism revolving fund. All principal and interest payments, and money...
• Sec. 45.81.110 Special Account Established.
  (a) There is established as a special account within the tourism revolving fund the foreclosure expense account. This account is established as a reserve...
• Sec. 45.81.120 Powers and Duties of the Department of Commerce, Community, and Economic Development.
  (a) The department may(1) make loans to a business directly involved in the tourist industry;(2) designate agents and delegate powers to them as is...
• Sec. 45.81.130 Limitations on Loans.
  (a) State participation in a loan to a business may not be more than $3,000,000.(b) The loan shall be secured by acceptable collateral and...
• Sec. 45.81.140 Sale or Transfer of Mortgages and Notes.
  (a) The commissioner of commerce, community, and economic development may sell or transfer at par value or at a premium or discount to any...
• Sec. 45.81.190 Disposal of Property Acquired by Default or Foreclosure.
  The Department of Commerce, Community, and Economic Development shall dispose of property acquired through default or foreclosure of a loan made under AS 45.81.100...

Last modified: November 15, 2016