(a) There is established as a special account within the commercial fishing revolving loan fund the foreclosure expense account.
(b) [Repealed, ยง 72 ch 113 SLA 1982.]
(c) The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state's security interest in collateral on loans granted under AS 16.10.300 - 16.10.370 or to defray expenses incurred during foreclosure proceedings after a default by an obligor.
Structure Alaska Statutes
Chapter 10. Fisheries and Fishing Regulations
Article 8. Commercial Fishing Loan Act.
Sec. 16.10.300. Declaration of policy.
Sec. 16.10.310. Powers of the department.
Sec. 16.10.320. Limitations on loans.
Sec. 16.10.333. Loans for purchase of Alaska limited entry permits.
Sec. 16.10.335. Default and foreclosure.
Sec. 16.10.337. Deficiencies and transfer of entry permits after foreclosure.
Sec. 16.10.338. Entry permits as collateral.
Sec. 16.10.340. Commercial fishing revolving loan fund.
Sec. 16.10.342. Foreclosure expense account.
Sec. 16.10.350. Administration of fund.
Sec. 16.10.353. Waiver of confidentiality.
Sec. 16.10.355. Disposal of property acquired by default or foreclosure.