reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.040 - "Made in Alaska" program

Current through May 31, 2024
(a) The "Made in
				Alaska" program is designed to promote products made or manufactured in the
				state and handicrafts produced by both Native and non-Native
				craftspersons.
(b) The official
				emblem for the "Made in Alaska" program depicts a mother bear and her cub in a
				rectangular format with the words "Made in Alaska" underneath. The "Made in
				Alaska" emblem has no established colors. The emblem is of the following
				design:
CLICK TO VIEW
				  SEAL
(c) Except
				as provided in (i) of this section, a person who makes or manufactures a
				product or produces a handicraft in the state may apply to the commissioner or
				a "Made in Alaska" agent for a permit to use the "Made in Alaska" emblem on the
				product.
(d) A separate permit is
				required for each handicraft type or product line of the applicant.
(e) A permit to use the "Made in Alaska"
				emblem will be issued to an applicant who
(1)
				locates and maintains the handicraft or product making or manufacturing
				operation within the state;
(2)
				produces a handicraft in the state or a product in which the value-added
				processes were accomplished in the state;
(3) uses Alaska resources and materials in
				the manufacturing or production of the product or handicraft, or provides
				documentation that the raw resources and materials do not exist within the
				state either in the form, quality, or quantity required for the production of
				the product or the handicraft;
(4)
				has a current Alaska business license if required by AS 43.75;
(5) submits a completed application on a form
				approved by the department and the required annual fees;
(6) permits the inspection of the production
				or manufacturing site by the commissioner or a "Made in Alaska" agent;
				and
(7) complies with the
				requirements of
				AS
				45.65.010-45.65.070 and this chapter to
				determine the eligibility of the product.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.045 - Use of the "Made in Alaska" emblem or representation

Current through May 31, 2024
(a) A permit
				holder, other than a "Made in Alaska" agent, may use a representation of the
				"Made in Alaska" emblem on labels, letterheads, business cards, in-store and
				other advertising, and for other similar purposes.
(b) The "Made in Alaska" agent may use a
				representation of the "Made in Alaska" emblem only on letterheads, business
				cards, and other advertising solely for the purpose of identifying that person
				as a "Made in Alaska" agent and to fulfill that agent's duties under
				AS
				45.65.010-45.65.070 and this
				chapter.
(c) The "Made in Alaska"
				emblem or a representation of that emblem may not be used in a manner that is
				false or misleading. The "Made in Alaska" emblem or a representation of that
				emblem may only be used without any modification to the design specified in
				3 AAC 58.040(b).
(d) The "Made in Alaska" emblem or a
				representation of that emblem may not be incorporated into any business,
				company or product logo or label.
(e) The "Made in Alaska" emblem or a
				representation of that emblem may not be sold as art or as a dominant feature
				of a product, unless approved by the commissioner in writing.
(f) The permit holder may obtain "Made in
				Alaska" emblems from any source so long as they conform to the requirements of
				AS
				45.65.010-45.65.070 and this
				chapter.
Authority:
AS
					 44.33.020
AS 45.65.020
AS
					 45.65.045
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.050 - "Made in Alaska" agent permits

Current through May 31, 2024
(a) The
				commissioner will, in the commissioner's discretion, issue a permit to an agent
				for the "Made in Alaska" program if the applicant pays the required application
				and permit issuance fees and certifies on an application form approved by the
				department that the applicant
(1) is a
				resident of the state; and
(2) has
				a current Alaska business license, if required under AS 43.75.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.055 - "Made in Alaska" agent duties

Current through May 31, 2024
The duties of the "Made in Alaska" agent include
(1) promoting and advertising the "Made in
				Alaska" program;
(2) providing
				information to the public on the "Made in Alaska" program such as application
				and eligibility requirements for a permit, the availability of application
				forms, where to obtain information and assistance, and other similar
				duties;
(3) distributing
				application forms and instructions for a permit to use the "Made in Alaska"
				emblems;
(4) receiving and
				recording completed application forms, collecting any required application
				fees, maintaining proper fiscal procedures to account for all fees collected,
				and depositing all fees with the department within two weeks of their
				receipt;
(5) performing site
				inspections or taking other action to verify the accuracy of information on the
				application;
(6) determining if the
				product meets the eligibility requirements under
				3 AAC 58.040(e) and either approving or
				disapproving the application; submitting a copy of each application and the
				action taken to the commissioner within 30 days from the date of the
				action;
(7) submitting other
				information and reports as required by the commissioner;
(8) assisting the commissioner in the renewal
				process for permits to use the "Made in Alaska" emblem under
				3 AAC 58.040(g); and
(9) reporting alleged violations of
				AS
				45.65.010-45.65.070 or this chapter to the
				commissioner.
Authority:
AS
					 44.33.020
AS 45.65.020
AS
					 45.65.045
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.060 - Permit fees

Current through May 31, 2024
The fees for permit applications for the silver hand and the
				  "Made in Alaska" programs are as follows:
(1) silver hand agent permit application fee,
				$50
(2) silver hand agent permit
				issuance fee, $150
(3) silver hand
				agent permit triennial renewal fee, $150
(4) "Made in Alaska" permit:
(A) annual fee per handicraft type or product
				line, $25
(B) annual maximum fee
				per permit holder, $75
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.070 - Application review

Current through May 31, 2024
(a) Within 30 days after receiving
				notification of denial of an application or renewal for authorization to use
				the silver hand seal, to use the "Made in Alaska" emblem, or to become an agent
				for either the silver hand or the "Made in Alaska" program, the applicant may
				request reconsideration by the commissioner.
(b) The request for reconsideration must
				specify grounds that would support reversal of the denial.
(c) Within 30 days after receipt of a
				completed request for reconsideration, the commissioner will issue a written
				decision. The commissioner's decision on reconsideration constitutes final
				administrative action by the department.
Authority:
AS
					 44.33.020
AS 44.65.020
AS 45.65.040
AS
					 45.65.045
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.075 - Revocation and debarment

Current through May 31, 2024
(a) The permit of a
				person authorized to use the silver hand seal or the "Made in Alaska" emblem or
				to act as an agent for either the silver hand or the "Made in Alaska" program
				who is convicted of an offense under
				AS
				45.65.060 is automatically revoked as of the
				date of the conviction.
(b) Any
				person who is convicted of an offense under
				AS
				45.65.060 is barred from any further
				participation in either the silver hand or the "Made in Alaska"
				program.
(c) After notice and
				opportunity for hearing, the commissioner will, in the commissioner's
				discretion revoke a permit for failure to comply with the requirements of
				AS
				45.65.010-45.65.070 including the payment of
				fees, and this chapter.
Authority:
AS
					 44.33.020
AS 44.65.020
AS 45.65.040
AS 45.65.045
AS
					 45.65.060
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 58 - Silver Hand and "Made In Alaska" Programs › 3 AAC 58.900 - Definitions

Current through May 31, 2024
In this chapter
(1)
				"commissioner" means the commissioner of the Department of Commerce, Community,
				and Economic Development;
(2)
				"department" means the Department of Commerce, Community, and Economic
				Development;
(3) "handicrafts"
				means products that are produced for sale by a skilled craftsperson, usually as
				a home occupation or in a small shop; each product requires individual
				attention, is produced in small quantities, and utilizes a minimum of power
				tools;
(4) "Made in Alaska" agent
				means a person who holds a valid permit issued under this chapter to serve as
				an agent for the "Made in Alaska" program;
(5) "manufactured product" means a product
				that is built, formed, fabricated, or assembled from raw or semi-finished
				material which is changed in character in the final product;
(6) "natural material" means material
				produced or existing in nature, not artificial or manufactured, and derived
				from lands, plants, animals or other natural resources;
(7) "product line" means a product or group
				of products that is manufactured utilizing similar materials and manufacturing
				processes and producing a finished product that is similar in form, content,
				and use;
(8) "silver hand agent"
				means a person who holds a valid permit issued under this chapter to serve as
				an agent for the silver hand program;
(9) "value-added process" means a process
				that changes a raw material or a basic industrial material into a more finished
				product or alters the function, shape, or appearance resulting in a product
				with increased value;
(10)
				"handicraft type" means a handicraft or a group of handicrafts that is crafted
				utilizing similar materials and crafting processes and producing a finished
				product that is similar in form, content, and use.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 44.33.020
AS 44.65.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.010 - Purpose

Current through May 31, 2024
This chapter is intended to implement, interpret, and make
				  specific the new business incentive program as established by
				  AS
				  45.81.010.
Authority:
AS
					 45.81.010
AS
					 45.81.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.020 - Duties and responsibilities of the department

Current through May 31, 2024
(a) The department
				will provide assistance to businesses applying for a new business incentive
				grant by providing the following:
(1)
				information, forms, and other material as required to apply for a grant under
				this chapter;
(2) available data
				and information on the region's economy.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.030 - Eligibility for grants

Current through May 31, 2024
(a) For purposes of meeting the eligibility
				requirements set out in
				AS
				45.81.020(a), a new business
				or a business that is opening a new branch in the state
(1) must have a valid business license
(A) issued by the department under AS 43.70
				and 12 AAC 12; and
(B) specifying
				manufacturing as the line of business within the meaning of
				12 AAC 12.990, as indicated by the
				department's corresponding
(i) two-digit
				business category code for that line of business; and
(ii) four-digit or six-digit business
				classification codes for related primary and secondary business activities
				within that line of business;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.040 - Grant application process

Current through May 31, 2024
To apply for a grant under
				  AS
				  45.81.010, an applicant must file with the
				  department an application, on a form provided by the department, and the
				  following information:
(1) a letter
				stating the proposed use of the grant, including a complete list of specific
				expenditures that the grant would reimburse;
(2) a copy of a complete business plan in
				form and substance acceptable to the department;
(3) for a business to be located in a
				municipality, a copy of the agreement required by
				3 AAC 59.030(a) (4)(B);
(4) a description of the items that the
				business proposes to manufacture in the state and the destinations to which the
				products are to be exported;
(5) a
				list of required employee position descriptions and anticipated salaries for
				the first five years for all employees to be located in the state, including
				key personnel;
(6) the names of the
				key personnel of the business, and for each of these individuals, a brief
				resume of the individual's professional background and experience;
(7) other information as requested by the
				department as necessary for the department to determine compliance with AS
				45.81 and this chapter.
Authority:
AS
					 45.81.010
AS 45.81.020
AS
					 45.81.040
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.050 - Terms and conditions

Current through May 31, 2024
(a) In addition to the recommendation that
				the Alaska Industrial Development and Export Authority provides under
				AS
				45.81.020(a)(5), the
				department will consider each of the following guidelines in determining
				whether to award a new business incentive grant:
(1) for a new business or new branch of a
				business located in a municipality, the amount or extent of support or
				financial incentives to be provided by that municipality;
(2) the number and quality of jobs in the
				state that are likely to be generated directly or indirectly as a result of the
				new business or new branch.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.060 - Grant administration

Current through May 31, 2024
(a) The department will, in its discretion,
				award a new business incentive grant in accordance with
				AS
				45.81.010. The department will process
				applications for new business incentive grants on a year-round basis. The
				department will review applications on a first-come first-served basis until
				the new business incentive fund is depleted.
(b) If the new business incentive fund is
				depleted before the department finishes reviewing an application, the applicant
				must reapply during the next fiscal year when money is appropriated to the
				fund. If an application form and supporting documentation, as required by
				3 AAC 59.040, are already on file with the department,
				the applicant may reapply by submitting supporting documentation to update
				information already on file.
Authority:
AS
					 45.81.010
AS 45.81.020
AS
					 45.81.040
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 59 - Alaska New Business Incentive Program › 3 AAC 59.900 - Definitions

Current through May 31, 2024
In AS 45.81 and this chapter, unless the context indicates
				  otherwise,
(1) "ceasing to operate"
				means
(A) losing or letting lapse a business
				license issued under AS 43.70 and 12 AAC 12; or
(B) discontinuing business operations in the
				state, resulting in the furlough or dismissal of the employed
				workforce;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 9 - Division of Trade and Development › Chapter 60 - 70 - Deleted

Current through May 31, 2024
In light of the November 6, 1984, voter approval of
				  Initiative No. 83-02, abolishing the Alaska Transportation Commission (ATC),
				  the regulations attorney has, under
				  AS
				  44.62.125(b)(6), deleted the
				  ATC's regulations, 3 AAC 60 - 3 AAC 70, and 3 AAC 76 from the Alaska
				  Administrative Code as of Register 99 (October
				  1986).
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.010 - Application process

Current through May 31, 2024
(a) To apply for a loan under
				AS
				44.33.950-44.33.990 for working capital,
				equipment, construction, or other commercial purposes, the applicant shall file
				with the department
(1) a completed
				application for a microloan revolving loan, on a form provided by the
				department;
(2) a completed
				residency questionnaire, on a form provided by the department;
(3) a letter of intent stating the amount
				requested and intended use consistent with
				AS
				44.33.950-44.33.990 of the proposed loan
				money, on a form provided by the department;
(4) a schedule of acceptable collateral,
				including collateral now owned and other collateral to be acquired with the
				loan proceeds, on a form provided by the department;
(5) an individual financial statement
				consisting of a current balance sheet and a profit and loss statement, on a
				form provided by the department;
(6) a statement of projected income and
				expenses for the following year's operating plan, on a form provided by the
				department;
(7) a signed credit
				authorization, on a form provided by the department;
(8) a consent to release information, on a
				form provided by the department;
(9) copies of the applicant's federal income
				tax returns for the preceding three years, and for additional years if
				necessary to establish eligibility;
(10) copies of purchase agreements,
				estimates, invoices, or other documentation regarding the intended use of loan
				proceeds;
(11) the application fee
				required by
				3 AAC 74.055(b); and
(12) any other information requested by the
				department needed to process the loan application.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.015 - Examination

Current through May 31, 2024
(a) The materials described in
				3 AAC 74.010 will be processed and evaluated by a loan
				officer. The loan officer will evaluate the applicant's eligibility, financial
				and credit history, experience, ability to repay, and proposed
				collateral.
(b) On the basis of the
				evaluation, the loan officer will either
(1)
				inactivate the application due to
(A) lack of
				information required under
				3 AAC 74.010; or
(B) ineligibility of the applicant;
				or
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.020 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				persons appointed by the director to act on a loan request.
(b) A loan committee may approve, deny, or
				modify a loan request, or may table a loan request subject to obtaining
				additional information.
(c) A loan
				committee may impose reasonable conditions on the approval of a loan, including
(1) additional collateral to secure the
				loan;
(2) additional guarantors;
				and
(3) subordination of prior lien
				holders' rights to the interests of the state.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.025 - Residency requirements

Current through May 31, 2024
(a) In determining if an applicant fulfills
				the 12 consecutive month residency requirements under
				AS
				44.33.960, the loan committee may consider
				any information that would indicate the applicant's residency, including where
				the applicant
(1) is registered to
				vote;
(2) maintains a permanent
				place of abode;
(3) files tax
				returns, and the address that is listed on the returns;
(4) registers or licenses personal property,
				including cars, boats, trucks, and trailers;
(5) is licensed to drive;
(6) maintains bank accounts, savings
				accounts, lines of credit, and other financial relationships;
(7) has claimed or received benefits as a
				resident;
(8) has received
				permanent fund dividends; and
(9)
				owns real property.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.030 - Financial and credit record

Current through May 31, 2024
(a) The department
				may consider the following factors in evaluating an applicant's financial and
				credit record:
(1) existing and prior
				debts;
(2) credit reports obtained
				from creditors and private credit reporting services;
(3) prior loan history with the
				department;
(4) timeliness in
				making payments on loans and other debts;
(5) existence of tax liens;
(6) judgments and foreclosures;
(7) financial and credit
				reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.035 - Ability to repay

Current through May 31, 2024
The department may consider the following factors in
				  evaluating an applicant's ability to repay:
(1) income history, including present
				income;
(2) prospects for future
				income;
(3) assets;
(4) liabilities;
(5) reasonableness of the projected profit
				and loss statement;
(6) other
				relevant information or experience.
Authority:
AS
					 44.33.955
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.040 - Collateral

Current through May 31, 2024
A loan must be secured by collateral acceptable to the
				  department, which may include a mortgage or other security instrument in real
				  property, equipment, buildings or other tangible assets.
Authority:
AS
					 44.33.955
AS
					 44.33.965
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.045 - Lending practices

Current through May 31, 2024
(a) The proceeds of the loan may be used by
				the borrower for working capital, equipment, construction, or other commercial
				purposes relating to the borrower's business.
(b) A loan will not be approved for
				refinancing long-term debt. Interim or construction financing is not considered
				long-term debt if the term is less than the longer of 12 months or the length
				of actual construction and the earliest promissory note or other document
				evidencing the creation of the debt was executed less than six months before
				receipt of the application by the department.
(c) Loan proceeds may not be used to
				reimburse an applicant for purchases more than six months before receipt of the
				application by the department.
(d)
				The department will set the interest rate for loans under this chapter on the
				first day of each calendar quarter. The interest rate set for a quarter remains
				in effect until the department changes the rate, will not exceed the maximum or
				minimum interest allowed under
				AS
				44.33.965(b)(2), and will be
				established at the nearest one-quarter point. The interest rate will be based
				on the prime rate, as defined in
				AS
				44.88.599, during the previous
				quarter.
(e) The interest rate for
				a loan is the interest rate in effect at the time the loan commitment is made.
				The interest rate for a loan will be at a fixed rate for the term of the
				loan.
Authority:
AS
					 44.33.955
AS
					 44.33.965
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.050 - Disbursement of loan money

Current through May 31, 2024
Loan money will be disbursed when
(1) the state has perfected a security
				interest in the collateral;
(2)
				requirements of the department as specified by the loan committee have been
				met; and
(3) the borrower is in
				compliance with provisions of the loan documents,
				AS
				44.33.950-44.33.990, and this
				chapter.
Authority:
AS
					 44.33.955
AS
					 44.33.965
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.055 - Costs and fees

Current through May 31, 2024
(a) All expenses incurred by the department
				in processing an application must be paid by the applicant. These expenses
				include the cost of title reports and insurance, recording fees, appraisals,
				surveys, travel, and other direct costs.
(b) A nonrefundable application fee of $100
				is due to the department at the time an application for a loan is submitted to
				the department under this chapter.
(c) An origination fee of one percent of the
				total loan amount or an assumption fee of one percent of the loan balance is
				due from the borrower when provisions of this chapter have been met.
(d) A late fee not to exceed five percent of
				the payment amount will be charged to a borrower for each loan payment that is
				received more than 15 days after the due date for the payment.
(e) A fee not to exceed $100 will be charged
				to a borrower to process a loan extension application.
(f) The department will not charge the late
				fee described in (d) of this section if
(1)
				the department receives from the borrower a loan extension application or a
				payment not more than 15 days after the due date for the payment;
(2) the department approves the loan
				extension application or payment plan; and
(3) one or more of the following occurs:
(A) the borrower meets all conditions for the
				loan extension or the payment plan;
(B) the department receives payment during
				its review of the loan extension application or payment plan.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.060 - Assumptions

Current through May 31, 2024
(a) A request for permission to assume the
				obligations and benefits of a loan made under
				AS
				44.33.950-44.33.990 and this chapter will be
				processed in the same manner as an application for a loan.
(b) A loan committee may permit an assumption
				if the applicant meets eligibility requirements under
				AS
				44.33.960 and this chapter, is a good
				financial risk, and the security of the state's investment is
				preserved.
(c) Wraparound financing
				that includes a loan made under
				AS
				44.33.950-44.33.990 and this chapter is
				prohibited and constitutes a default on the loan.
Authority:
AS
					 44.33.955
AS
					 44.33.960
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.070 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under
				AS
				44.33.950-44.33.990 and this chapter will be
				processed in the same manner as an application for a loan. The department will
				require the applicant to file one or more of the items specified in
				3 AAC 74.010 if information on those items has changed
				since they were previously filed, or if the department needs additional
				information not appearing in the previously filed items in order to review the
				request for modification.
(b) A
				loan committee may permit a loan modification only if the security of the state
				and the state's investment is preserved.
Authority:
AS
					 44.33.955
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.080 - Reconsideration of a loan request

Current through May 31, 2024
(a) If a loan
				request is denied, inactivated, or significantly modified by the department, an
				applicant may file a written request for reconsideration not later than 30 days
				after receipt of notice of the decision of the department.
(b) The department will reconsider the
				request on a showing by the applicant that
(1) There has been a substantial change in
				the circumstances leading to the decision of the department;
(2) additional relevant information that was
				not initially available can be provided to the department; or
(3) administrative errors were made by the
				department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.090 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record, including a deed of trust, financing statement, limited entry
				permit, quota share, warranty deed, bill of sale, mortgage, lien, vehicle
				title, or vessel documentation;
(2)
				general information regarding loans, including the original loan amount, loan
				terms, personal guarantees, and disbursement and repayment schedules;
(3) insurance matters, including title
				insurance policies and correspondence with insurance companies or borrowers
				regarding losses, accident reports, and nonpayment of premiums;
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 74 - Alaska Microloan Revolving Loan Fund › 3 AAC 74.900 - Definitions

Current through May 31, 2024
In this chapter, unless the context requires
				  otherwise,
(1) "director" means the
				director of the division assigned economic development functions or its
				successor agency in the department;
(2) "wraparound financing" means a contract
				that includes the balance due on an existing debt and an additional amount to
				cover the difference between the selling price and the existing debt.
Authority:
AS
					 44.33.955
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.010 - Application process

Current through May 31, 2024
(a) To apply for a loan for the purchase and
				installation of capstone avionics equipment, the applicant shall file
(1) a completed application for a capstone
				avionics loan, on a form provided by the department;
(2) documentation to verify that the aircraft
				on which the capstone avionics equipment is to be installed meets the
				eligibility requirements contained in
				AS
				44.33.665(a) and
				3 AAC 75.025;
(3) a letter of intent stating the amount
				requested and the intended use of the proposed loan money on a form provided by
				the department;
(4) a schedule of
				acceptable collateral, including a copy of the aircraft title or the aircraft
				lease and capstone avionics equipment to be acquired with the loan proceeds, on
				a form provided by the department;
(5) an individual financial statement
				consisting of a current balance sheet and a profit and loss statement, on a
				form provided by the department;
(6) a signed authorization, on a form
				provided by the department, for any individual or institution to release to the
				department credit information concerning the applicant;
(7) a copy of the applicant's federal income
				tax return for the preceding year; as necessary to verify the applicant's
				income, or if a federal income tax return for the preceding year is not
				available, the department will request copies of federal income tax returns for
				earlier years or other documentation of the applicant's income;
(8) a signed consent, on a form provided by
				the department, for the department to obtain information from, or release
				information to, other government agencies;
(9) copies of the purchase agreement, cost
				estimates, invoice, or other documentation to verify the cost of equipment
				being purchased and installed with loan proceeds;
(10) the application fee required by
				3 AAC 75.055(a);
(11) any other information that might be
				helpful to the applicant in demonstrating eligibility for a loan, as requested
				by the department; and
(12) a copy
				of the airworthiness certificate issued under
				49 U.S.C.
				44704(d) by the Federal
				Aviation Administration for the aircraft on which the capstone avionics
				equipment is to be installed.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.015 - Examination

Current through May 31, 2024
(a) A loan officer shall evaluate and process
				the materials described in
				3 AAC 75.010. The loan officer shall evaluate the
				applicant's eligibility, financial and credit history, financial statement,
				ability to repay, and proposed collateral.
(b) On the basis of the evaluation, the loan
				officer shall either
(1) inactivate the
				application due to
(A) lack of information
				required under
				3 AAC 75.010;
(B) ineligibility of the applicant;
				or
(C) failure by the aircraft to
				meet the eligibility requirements under
				3 AAC 75.025; or
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.020 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				persons appointed by the director to act on a loan request.
(b) A loan committee may approve, deny, or
				modify and approve a loan request, or may table a loan request subject to
				obtaining additional information.
(c) A loan committee may impose reasonable
				conditions on the approval of a loan, including
(1) additional collateral to secure the
				loan;
(2) additional guarantors;
				and
(3) adding the department as
				loss payee on an existing aircraft insurance policy.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.025 - Eligibility of aircraft and equipment

Current through May 31, 2024
(a) For an aircraft
				to be eligible for a loan under
				AS
				44.33.650-44.33.690, the applicant must
				document that the aircraft has logged a substantial percentage of flight hours
				in the state. For purposes of this section, an applicant shall document that
				the aircraft has logged substantial flight hours by submitting to the
				department a declaration certifying that at least 51 percent of the aircraft's
				flight hours in the previous 12 months were flown in this state.
(b) Capstone avionics equipment eligible for
				a loan includes one or more of the following:
(1) an automatic dependent surveillance -
				broadcast (ADS-B) data link system;
(2) global positioning system/wide area
				augmentation system (GPS/WAAS) navigation equipment;
(3) a moving map multifunction display
				(MFD);
(4) other equipment as
				determined by the department in consultation with the Department of
				Transportation and Public Facilities.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.030 - Financial and credit record

Current through May 31, 2024
(a) The department
				may consider the following factors in evaluating an applicant's financial and
				credit record:
(1) existing and prior
				debts;
(2) credit reports obtained
				from creditors and private credit reporting services;
(3) prior loan history with the
				department;
(4) timeliness in
				making payments on loans and other debts;
(5) existence of tax liens;
(6) judgments and foreclosures;
(7) financial and credit
				reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.035 - Ability to repay

Current through May 31, 2024
The department may consider the following factors in
				  evaluating an applicant's ability to repay:
(1) income history, including present
				income;
(2) prospects for future
				income;
(3) assets and their
				liquidity;
(4)
				liabilities;
(5) reasonableness of
				profit and loss statement;
(6)
				other relevant experience.
Authority:
AS
					 44.33.660
AS
					 44.33.665
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.040 - Collateral

Current through May 31, 2024
A loan must be secured by collateral acceptable to the
				  department, which may include a lien on the equipment being financed and the
				  aircraft on which the capstone avionics equipment is to be
				  installed.
Authority:
AS
					 44.33.660
AS
					 44.33.665
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.045 - Lending practices

Current through May 31, 2024
(a) A loan will not be approved for
				refinancing of debt of an existing loan, the proceeds of which were used to
				purchase or install capstone avionics equipment described in
				3 AAC 75.025.
(b) A loan may be approved under
				AS
				44.33.650-44.33.690 and this chapter for
				capstone avionics equipment purchased and installed not more than 120 days
				before receipt of the application by the department.
(c) The interest rate for the loan program is
				four percent.
(d) A loan for the
				purchase and installation of capstone avionics equipment will be made only if
				the aircraft or lease is in the name of the applicant and the equipment to be
				purchased is offered as security for the loan.
(e) If the lease agreement expires during the
				term of the loan, the borrower has 120 days to pay the loan in full, or provide
				proof of lease renewal or purchase of aircraft. If the borrower fails, during
				the 120-day period, to pay the loan in full or provide proof of lease renewal
				or purchase of the aircraft, the department will consider the loan to be in
				default.
Authority:
AS
					 44.33.660
AS
					 44.33.665
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.050 - Disbursement of loan proceeds

Current through May 31, 2024
Loan proceeds will be disbursed when
(1) requirements of the loan committee have
				been met; and
(2) the borrower is
				in compliance with all other provisions of
				AS
				44.33.650-44.33.690, this chapter, and the
				loan documents.
Authority:
AS
					 44.33.660
AS 44.33.665
AS
					 44.33.670
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.055 - Fees

Current through May 31, 2024
(a) A $50 application fee will be charged to
				a borrower to process each loan application.
(b) A late fee not to exceed five percent of
				the payment amount will be charged to a borrower for each loan payment that is
				received more than 15 days after the due date. If requested by the borrower and
				the borrower has not previously received a partial or full waiver of a late
				fee, the department will waive up to all of the late fee as follows:
(1) 100 percent if the loan payment was
				received no more than l8 days after the due date;
(2) 90 percent if the loan payment was
				received no more than 29 days after the due date.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.060 - Assumptions

Current through May 31, 2024
(a) A request for permission to assume the
				obligations and benefits of a loan made under
				AS
				44.33.650-44.33.690 and this chapter will be
				processed in the same manner as a loan application.
(b) A loan committee may permit an assumption
				if the
(1) applicant is a good financial
				risk; and
(2) security of the
				state's investment is preserved.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.065 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				made under
				AS
				44.33.650-44.33.690 and this chapter will be
				processed in the same manner as a loan application. The department will require
				the applicant to file one or more of the items specified in
				3 AAC 75.010 if information on those items has changed
				since they were previously filed, or if the department needs additional
				information not appearing in the previously filed items in order to review the
				request for modification.
(b) A
				loan committee may permit a loan modification only if the security of the state
				and its investment is preserved.
Authority:
AS
					 44.33.660
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.070 - Reconsideration of loan request

Current through May 31, 2024
(a) If a loan
				request is denied, inactivated, or significantly modified by the department, an
				applicant may file a written request for reconsideration within 30 days after
				receipt of notice of the department's decision.
(b) The department will reconsider a request
				upon a showing by the applicant that
(1)
				there has been a substantial change in the circumstances leading to the
				department's decision;
(2)
				additional relevant information can be provided to the department that was not
				initially available; or
(3)
				administrative errors were made by the department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.075 - Confidentiality of loan information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record, including a financing statement, aircraft title, or aircraft
				documentation;
(2) general
				information regarding loans, including the original loan amount, loan terms,
				personal guarantees, and disbursement and repayment schedules;
(3) insurance matters, including insurance
				policies and correspondence with insurance companies or borrowers regarding
				losses, accident reports, and nonpayment of premiums;
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 75 - Capstone Avionics Loans › 3 AAC 75.900 - Definitions

Current through May 31, 2024
In this chapter, unless the context requires
				  otherwise,
(1) "ADS-B system" means an
				automatic dependent surveillance-broadcast (ADS-B) data link system;
(2) "default" includes a violation of any
				provision of
				AS
				44.33.650-44.33.690, this chapter, or the
				loan documents, or failure to make the necessary payment within 15 days after
				it is due;
(3) "department" means
				the Department of Commerce, Community, and Economic Development;
(4) "director" means the director of the
				division assigned economic development functions or its successor agency in the
				department;
(5) "guarantor" means a
				person who legally assures that the loan requirements will be met if the
				borrower fails to pay or perform as contracted;
(6) "wraparound financing" means a contract
				that includes the balance due on an existing debt and any additional amount to
				cover the difference between the selling price and the existing debt.
Authority:
AS
					 44.33.660
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 76 - Deleted

Current through May 31, 2024
In light of the November 6, 1984, voter approval of
				  Initiative No. 83-02, abolishing the Alaska Transportation Commission (ATC),
				  the regulations attorney has, under
				  AS
				  44.62.125(b)(6), deleted the
				  ATC's regulations, 3 AAC 60 - 3 AAC 70 and 3 AAC 76, from the Alaska
				  Administrative Code as of Register 99 (October
				  1986)