{"data":{"id":"us-ak/as-44.33.955","jurisdiction":"us-ak","citation":"AS 44.33.955","heading":"Powers and duties of the department.","body":"The department may\n(1) make loans to eligible applicants under AS 44.33.950 — 44.33.990 to be used for working capital, equipment, construction, or other commercial purposes by a business located in the state;\n(2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund;\n(3) establish amortization plans for repayment of loans, including extensions of the terms of loans;\n(4) allow an assumption of a loan if\n(A) the applicant meets the requirements established under this section; and\n(B) approval of the assumption would be consistent with the purposes of AS 44.33.950 — 44.33.990;\n(5) establish the rate of interest for loans consistent with law;\n(6) charge and collect fees for services provided under AS 44.33.950 — 44.33.990;\n(7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 44.33.950 — 44.33.990, including regulations to establish reasonable fees for services provided; and\n(8) designate agents and delegate powers as necessary to the agents.","path":["Title 44. State Government.","Chapter 33. Department of Commerce, Community, and Economic Development.","Article 17. Alaska Microloan Revolving Loan Fund."],"source_url":"https://www.akleg.gov/basis/statutes.asp#44.33.955","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:34Z","sha256":"c17d2b30c25e7bae952c180c2fb08004e659ae95dc65860f49d1310195c2b210","source_id":"us-ak","stale":false,"prev":"us-ak/as-44.33.950","next":"us-ak/as-44.33.960"},"notice":"GroundRules: Original legal text. Not legal advice."}