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AK SB68
Bill
AI Summary
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Removes requirement that at least one elected board member of the Alaska Commercial Fishing and Agriculture Bank must be a resident farmer.
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Eliminates loan amount caps for tourism and natural resource development loans, previously limited to $500,000 for individuals and $1,000,000 for corporations.
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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.
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Establishes department examination authority for the bank at intervals not exceeding 36 months, with examination fees paid by the bank covering actual department costs.
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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