Sec. 16.10.910. Eligibility.

207 words·~1 min read·/ak/title-16/chapter-10/16-10-910

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

(a)For an applicant to be eligible for a loan under AS 16.10.890 — 16.10.945, the applicant shall be

(1)a resident of the state who has

(A)a permitted mariculture farm location in this state; and

(B)experience or training in the mariculture industry; or

(2)a resident of the state or entity organized under the laws of this state that

(A)holds a permit under AS 16.40.100 to operate a hatchery for the purpose of producing aquatic plants or shellfish; or

(B)conducts shellfish enhancement projects.

(b)In addition to the requirements set out in

(a)of this section, the applicant

(1)may not be eligible for financing from other recognized commercial lending institutions; or

(2)shall be able to obtain only a portion of the total loan request from a recognized commercial lending institution.

(c)To meet the residency requirements of

(a)of this section, an individual applicant

(1)shall physically reside in this state and maintain a domicile in this state during the 24 consecutive months preceding the date of application for the program; and

(2)may not have

(A)declared or established residency in another state; or

(B)received residency or a benefit based on residency from another state.