11 AAC 39.011. Duties of the board

(a) In exercising its duties, the board will encourage and promote the development of agriculture as an industry throughout the state. The duties of the board include

(1) administration of the fund;

(2) submission of the proposed fund budget to the commissioner;

(3) management and disposal of fund assets;

(4) approval of loans, installment contracts, land purchase agreements, easements, leases, permits, and other contracts related to loans or assets of the fund; and

(5) referral of requests for legal action related to the fund to the attorney general.

(b) At the direction of the board, the director shall conduct the following activities relating to the fund:

(1) provide administrative support for the fund and the board;

(2) process loan applications and other loan requests;

(3) receive, disburse, and audit money in the fund;

(4) execute and service all agreements and contracts;

(5) receive, manage, and dispose of assets;

(6) provide independent financial and management analyses;

(7) provide information and services to the public.

History: Eff. 12/1/84, Register 92; am 6/1/2001, Register 158; am 10/18/2001, Register 160

Authority: AS 03.09.010

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