The commissioner may not require the repayment of principal on a loan made under AS 16.10.510 for the initial period of the loan. Interest on the principal of a loan made under AS 16.10.510 does not accrue during the initial period of the loan. In this subsection, the “initial period of the loan” means a period of time determined by the commissioner that is not less than six years or more than 10 years from the date the loan is made.
Structure Alaska Statutes
Chapter 10. Fisheries and Fishing Regulations
Article 10. Fisheries Enhancement Loan Program.
Sec. 16.10.500. Declaration of policy.
Sec. 16.10.505. Fisheries enhancement revolving loan fund.
Sec. 16.10.507. Foreclosure expense account.
Sec. 16.10.510. Powers and duties of the commissioner.
Sec. 16.10.520. Limitation on loans.
Sec. 16.10.525. Repayment of principal and interest on loans.
Sec. 16.10.540. Voluntary assessment on sale of salmon.
Sec. 16.10.555. Disposal of property acquired by default or foreclosure.