Sec. 16.10.905. Powers and duties of the department.

181 words·~1 min read·/ak/title-16/chapter-10/16-10-905

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.