Sec. 44.33.655. - Alaska capstone avionics revolving loan fund. - Alaska Statutes

(a) There is created in the Department of Commerce, Community, and Economic Development a revolving loan fund to be known as the Alaska capstone avionics revolving loan fund to carry out the purposes of AS 44.33.650 - 44.33.690.

(b) The Alaska capstone avionics revolving loan fund consists of the following:

(1) money appropriated to, transferred to, or received by gift, devise, bequest, or donation to the fund;

(2) principal and interest payments or other income earned on loans or investments of the fund;

(3) money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 44.33.650 - 44.33.690.

(c) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 44.33.650 - 44.33.690.