Section 3.80.900. Definitions.

Unless the context requires otherwise in 3 AAC 80.010 - 3 AAC 80.480:  
		(1) "affidavit" means a sworn statement in writing and signed before a notary public;  
		(2) "commercial fishery" or "commercial fisheries" means those fisheries in Alaska requiring that a participant hold a commercial fishing permit or license issued by the State of Alaska;  
		(3) "commercial fishing" means the actual catching of fish, shellfish, crab or other fishery resources with the intent of disposing of those resources for profit by sale in commercial channels, while holding all required licenses and permits; for purposes of this paragraph, "actual catching" means having gear in the water with the intent to catch fish;  
		(4) "commissioner" means the commissioner of the Department of Commerce, Community, and Economic Development;  
		(5) repealed 10/16/2012;  
		(6) "default" includes a violation of any provision of this chapter, AS 16.10.300 - 16.10.370, or the loan documents, failure to make the necessary payment within 15 days after it is due, or failure to maintain the insurance required by the department;  
		(7) "department" means the Department of Commerce, Community, and Economic Development;  
		(8) "documented vessel" means a vessel permanently or temporarily registered, enrolled, or licensed by the United States Coast Guard and that has been issued an official number by the United States Coast Guard;  
		(9) "extension package" means such forms as the department may require in order to make a decision on an extension request;  
		(10) "guarantor" means a person who legally assures that the loan requirements will be met if the borrower fails to pay or perform as contracted;  
		(11) "resident" means an individual who, except for brief intervals of military service, attendance at an educational institution, or absence for good cause, has been physically present in Alaska with the intent to remain indefinitely and make a primary and permanent home in the state;  
		(12) "total gross income" means income from all sources, including wages, rental income, business income, dividends, and interest payments;  
		(13) "wraparound financing" means a contract that includes the balance due on an existing debt and an additional amount to cover the difference between the selling price and the existing debt;  
		(14) "director" means the director of the division assigned economic development functions or its successor agency in the department;  
		(15) "charter halibut fishing vessel" means a vessel primarily used for commercial charter fishing that requires halibut charter permits;  
		(16) "charter halibut permit" means a permit issued by the National Marine Fisheries Service under 50 C.F.R. 300.67;  
		(17) "community quota entity" means a nonprofit organization approved by the National Marine Fisheries Service or its successors to hold and lease a quota share on behalf of an eligible community;  
		(18) "quota share" means a permit issued by the National Marine Fisheries Service or its successors used for the annual calculation of the allowable catch of halibut or sablefish in this state.  

Authorities

16.10.310;16.10.335;16.10.339;16.10.345;16.10.805;16.10.905;44.62.125

Notes

Authority

AS 16.10.310 AS 16.10.335 AS 16.10.339 AS 16.10.345 AS 16.10.805 AS 16.10.905 Editor's note: As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development. ________________________

History

Eff. 9/11/85, Register 95; am 3/16/95, Register 133; am 8/10/97, Register 143; am 10/16/2012, Register 204