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Title 3 . Commerce, Community, and Economic Development
Chapter 81 . Fisheries Enhancement Tax Appropriations
Section 60. Initial loan period

3 AAC 81.060. Initial loan period

(a) At the time a loan is made the department will, in its discretion, consider the following factors in setting the initial loan period:

(1) The time needed to build brood stock to a production level;

(2) the financial need of the permit holder; and

(3) other factors the department considers appropriate to preserve the security of the state and its investment.

(b) The department will, in its discretion, extend the term of the initial loan period at any time during the first 10 years of the loan only if an extension of the initial loan period is in the best interest of the state. The term of the initial period, as extended, will not exceed 10 years.

History: Eff. 11/28/92, Register 124

Authority: AS 16.10.510

AS 16.10.525

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Last modified 7/05/2006