Sec. 44.33.955. Powers and duties of the department.
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Sec. 44.33.955. Powers and duties of the department.
The department may
(1)make loans to eligible applicants under AS 44.33.950 — 44.33.990 to be used for working capital, equipment, construction, or other commercial purposes by a business located in the state;
(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 44.33.950 — 44.33.990;
(5)establish the rate of interest for loans consistent with law;
(6)charge and collect fees for services provided under AS 44.33.950 — 44.33.990;
(7)adopt regulations under AS 44.62 necessary to carry out the provisions of AS 44.33.950 — 44.33.990, including regulations to establish reasonable fees for services provided; and
(8)designate agents and delegate powers as necessary to the agents.