{"data":{"id":"us-ak/as-16.10.815","jurisdiction":"us-ak","citation":"AS 16.10.815","heading":"Limitations on loans.","body":"(a) Except as provided in (b) of this section, a loan under AS 16.10.801 — 16.10.840\n(1) for a charter halibut permit may not exceed the permit value determined by a 12-month rolling average set quarterly by the department for like permits;\n(2) for a loan other than a loan for a charter halibut permit may not exceed $100,000 a year;\n(3) may not exceed a term of 15 years, except for extensions under AS 16.10.805;\n(4) may not bear interest at a rate greater than the prime rate, as defined in AS 44.88.599, plus two percentage points, but which may not be less than six percent a year or more than 10 1/2 percent a year;\n(5) must be secured by a first priority lien on collateral acceptable to the commissioner, which may include collateral other than a charter halibut permit; and\n(6) may not be made to a person who has a past due child support obligation established by court order or by the child support services agency under AS 25.27.160 — 25.27.220 at the time of application.\n(b) The total balances outstanding on loans made to a borrower under AS 16.10.805 may not exceed $200,000.","path":["Title 16. Fish and Game.","Chapter 10. Fisheries and Fishing Regulations.","Article 13. Commercial Charter Fisheries Revolving Loan Fund."],"source_url":"https://www.akleg.gov/basis/statutes.asp#16.10.815","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:07Z","sha256":"453997efab0f861c4c376671b67079c03cf5a0989b84f85d0c18307dfc4a0444","source_id":"us-ak","stale":false,"prev":"us-ak/as-16.10.810","next":"us-ak/as-16.10.820"},"notice":"GroundRules: Original legal text. Not legal advice."}