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Sec. 16.10.905. Powers and duties of the department.

AK Stat § 16.10.905 (2019) (N/A)
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The department may

(1) make loans to eligible applicants under AS 16.10.890 - 16.10.945 for the planning, construction, and operation of a

(A) mariculture business;

(B) hatchery that artificially propagates marine aquatic plants or shellfish; or

(C) a shellfish enhancement project;

(2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund;

(3) establish amortization plans for repayment of loans, including extensions of the terms of loans;

(4) allow an assumption of a loan if

(A) the applicant meets the requirements established under this section; and

(B) approval of the assumption would be consistent with the purposes of AS 16.10.890 - 16.10.945;

(5) establish the rate of interest for loans consistent with law;

(6) charge and collect fees for services provided under AS 16.10.890 - 16.10.945;

(7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 16.10.890 - 16.10.945, including regulations to establish reasonable fees for services provided; and

(8) designate agents and delegate powers as necessary to the agents.

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Sec. 16.10.900. Mariculture revolving loan fund.
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Sec. 16.10.910. Eligibility.