Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 10 - Economic Development › Chapter 80 - Commercial Fishing Loans › Article 5 - General Provisions › 3 AAC 80.900 - Definitions

Current through May 31, 2024
Unless the context requires otherwise in
					 3 AAC 80.010 -
					 3 AAC 80.480:
(1) "affidavit" means a sworn statement in
				  writing and signed before a notary public;
(2) "commercial fishery" or "commercial
				  fisheries" means those fisheries in Alaska requiring that a participant hold a
				  commercial fishing permit or license issued by the State of Alaska;
(3) "commercial fishing" means the actual
				  catching of fish, shellfish, crab or other fishery resources with the intent of
				  disposing of those resources for profit by sale in commercial channels, while
				  holding all required licenses and permits; for purposes of this paragraph,
				  "actual catching" means having gear in the water with the intent to catch
				  fish;
(4) "commissioner" means the
				  commissioner of the Department of Commerce, Community, and Economic
				  Development;
(5) repealed
				  10/16/2012;
(6) "default" includes
				  a violation of any provision of this chapter,
				  AS
				  16.10.300-16.10.370, or the loan documents,
				  failure to make the necessary payment within 15 days after it is due, or
				  failure to maintain the insurance required by the department;
(7) "department" means the Department of
				  Commerce, Community, and Economic Development;
(8) "documented vessel" means a vessel
				  permanently or temporarily registered, enrolled, or licensed by the United
				  States Coast Guard and that has been issued an official number by the United
				  States Coast Guard;
(9) "extension
				  package" means such forms as the department may require in order to make a
				  decision on an extension request;
(10) "guarantor" means a person who legally
				  assures that the loan requirements will be met if the borrower fails to pay or
				  perform as contracted;
(11)
				  "resident" means an individual who, except for brief intervals of military
				  service, attendance at an educational institution, or absence for good cause,
				  has been physically present in Alaska with the intent to remain indefinitely
				  and make a primary and permanent home in the state;
(12) "total gross income" means income from
				  all sources, including wages, rental income, business income, dividends, and
				  interest payments;
(13) "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;
(14) "director"
				  means the director of the division assigned economic development functions or
				  its successor agency in the department;
(15) "charter halibut fishing vessel" means a
				  vessel primarily used for commercial charter fishing that requires halibut
				  charter permits;
(16) "charter
				  halibut permit" means a permit issued by the National Marine Fisheries Service
				  under 50 C.F.R.
				  300.67;
(17) "community quota entity" means a
				  nonprofit organization approved by the National Marine Fisheries Service or its
				  successors to hold and lease a quota share on behalf of an eligible
				  community;
(18) "quota share" means
				  a permit issued by the National Marine Fisheries Service or its successors used
				  for the annual calculation of the allowable catch of halibut or sablefish in
				  this state.
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
						16.10.310
AS 16.10.335
AS 16.10.339
AS 16.10.345
AS 16.10.805
AS
						16.10.905