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AK SB68

Bill

Status

Introduced

1/26/2011

Primary Sponsor

John Coghill

Click for details

Origin

Senate

27th Legislature

AI Summary

  • Removes requirement that at least one elected board member of the Alaska Commercial Fishing and Agriculture Bank must be a resident farmer.

  • Eliminates loan amount caps for tourism and natural resource development loans, previously limited to $500,000 for individuals and $1,000,000 for corporations.

  • Adds two new loan categories for non-resident operators: tourism-related activities and natural resource development facilities, if majority U.S.-owned and located in Alaska.

  • Establishes department examination authority for the bank at intervals not exceeding 36 months, with examination fees paid by the bank covering actual department costs.

  • Allows bank to provide eligible director candidates list to voting members and delays implementation of examination requirements until one year after the act's effective date.

Legislative Description

Commercial Fishing & Agriculture Bank

Residency

Last Action

REFERRED TO RULES

2/24/2012

Committee Referrals

Rules2/24/2012
Labor & Commerce1/26/2011

Full Bill Text

No bill text available