AS 44.33.950: Alaska microloan revolving loan fund.

(a) The Alaska microloan revolving loan fund is created in the Department of Commerce, Community, and Economic Development to carry out the purposes of AS 44.33.950 — 44.33.990.

(b) The Alaska microloan revolving loan fund consists of the following:

(1) money appropriated to, transferred to, or received by gift, grant, devise, bequest, or donation to the fund;

(2) principal and interest payments or other income earned on loans or investments of the fund;

(3) money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 44.33.950 — 44.33.990.

(c) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 44.33.950 — 44.33.990.