The commissioner may

(1) make loans to permit holders, under Alaska Stat. § 16.10.400 – 16.10.470, including those holders issued permits before June 24, 1977, for the planning, construction, and operation of hatchery facilities;
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 16.10.510

  • Amortization: Paying off a loan by regular installments.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(2) make loans to qualified regional associations that have formed a nonprofit corporation or a local nonprofit corporation approved by a qualified regional association, for preconstruction activities necessary to obtain a permit;
(3) designate agents and delegate powers to them as necessary;
(4) adopt regulations necessary to carry out the provisions of Alaska Stat. § 16.10.500 – 16.10.560, including regulations to establish reasonable fees for services provided;
(5) establish amortization plans for repayment of loans, not to exceed 30 years unless the commissioner has extended the term of the loan beyond 30 years under (11) of this section;
(6) establish the rate of interest for loans not to exceed nine and one-half percent a year;
(7) establish regional and local offices and advisory groups to carry out, or assist in carrying out, the duties and authority of the commissioner;
(8) make grants for organizational and planning purposes to qualified regional associations that have formed a nonprofit corporation, in amounts not exceeding $100,000 per region and up to an additional $100,000 on a 50/50 cash matching basis with the regional associations that have an authorized royalty assessment under Alaska Stat. § 16.10.540; the state portion of the matching share shall be available when a final vote for assessments is made under Alaska Stat. § 16.10.540; this provision also applies to qualified regional associations that have formed a nonprofit corporation before June 24, 1977;
(9) make loans to qualified regional associations that have formed a nonprofit corporation or to local nonprofit corporations approved by qualified regional associations for planning and implementation of fisheries enhancement and rehabilitation activities including, but not limited to, lake fertilization and habitat improvement;
(10) refinance a debt obligation incurred by a borrower under this section if the borrower otherwise qualifies for a loan under Alaska Stat. § 16.10.500 – 16.10.560; the interest rate for a loan to refinance a debt obligation incurred under this section may not exceed the interest rate that is in effect for new loans under this section at the time that the loan commitment for the refinancing loan is made; a loan made under this paragraph is not subject to Alaska Stat. § 16.10.525;
(11) extend the term of a loan made under this section if the commissioner finds that extension of the term of the loan would alleviate an undue financial hardship on the borrower; the commissioner shall submit annually a report to the legislature summarizing the commissioner’s decisions during the prior calendar year to approve or deny requests to extend loans under this paragraph and the reasons for the decisions;
(12) charge and collect the fees established under this section.
  Previous section
Next section  
 Article 10 Contents