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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.80. Commercial Fishing Loans. |
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Article 3.80.2. Community Quota Entity Revolving Loan Fund. |
Section 3.80.230. Collateral.
Latest version.
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(a) A loan must be secured by collateral acceptable to the department, such as a mortgage or other security instrument in real property or commercial fishing vessels with gear. The collateral must include the quota shares purchased. (b) A loan for the purchase of quota shares will be made only if the quota shares are placed in the name of the applicant.