- Alaska Statutes.
- Title 44. State Government
- Chapter 81. Commercial Fishing and Agriculture Bank
- Section 225. Small Loans to Nonmembers.
previous: Section 220
. Transition. [Repealed, Sec. 27 Ch 34 SLA 1996].
next: Section 230
. Loans For Purchase of Alaska Limited Entry Permits. [Repealed, Sec. 27 Ch 34 SLA 1996].
AS 44.81.225. Small Loans to Nonmembers.
- (a) To facilitate the development of commercial fisheries in geographic areas in which factors such as geographic
considerations, uncertainties of communication, or limited demands do not encourage normal lending activities, the bank
may make small loans to qualified borrowers who are not members of the bank.
- (b) The provisions of this chapter apply to loans authorized by this section except that
- (1) the borrower is not required to be a member of the bank at the time the loan is approved; and
- (2) the principal amount of the portion of the loan made by the bank may not exceed $25,000.
- (c) The total amount of money that may be loaned under this section may not exceed eight percent of the total capital of
- (d) To service loans made under this section, the bank may contract or make other arrangements with a public agency or
with a legal entity that the bank determines to be responsible and competent to administer the loan.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.