Alaska Administrative Code

If a borrower is delinquent on a loan, or is otherwise in default by reason of a failure to comply with the terms of the loan, the department will give written notice of the default to the borrower within 30 days after the delinquency or other matter giving rise to the delinquenc…

Notes 11 AAC 39.471 Eff. 12/1/84, Register 92; repealed 10/27/2002, Register 164 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 11 AAC 39.481 Eff. 12/1/84, Register 92; repealed 10/27/2002, Register 164 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 11 AAC 39.491 Eff. 12/1/84, Register 92; repealed 10/27/2002, Register 164 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

(a) The board may determine that a borrower has experienced an agricultural disaster or declare that an agricultural disaster has adversely affected an area or agricultural industry in the state. (b) When the board determines that a borrower has experienced an agricultural disast…

(a) The board may declare a moratorium on loan payments due from a borrower who is actively engaged in agriculture and has experienced an agricultural disaster under this chapter or a farm disaster under AS 03.10.058. The board will issue written findings and conclusions that sup…

(a) At least annually the board will establish an interest credit rate to encourage the prompt payment of loans under AS 03.10.050. Unless precluded by AS 03.10.050(f), the board may approve interest credit on a loan granted under this chapter. (b) Each calendar year, the board w…

(a) The board may restructure a loan made by the former Agricultural Revolving Loan Fund Board, the former Alaska Agricultural Action Council, or the commissioner before January 1, 1987, if the borrower is actively engaged in agriculture, shows good cause why the borrower did not…

(a) Interest accrues on a restructured loan from the date of restructuring at a rate no less than five percent per annum. The board may restructure a loan without reducing the interest rate if the board, based on financial information, determines that the borrower can repay the l…

The board may approve a term of no more than 30 years on a restructured loan based on the financial information and collateral offered by the borrower and the borrower's ability to repay within the term. Notes 11 AAC 39.620 Eff. 10/23/88, Register 108; am 6/1/2001, Register 158 A…

The board will use straight amortization on a restructured loan, unless the board determines on its own motion or based upon a request of the borrower that there is good cause for use of another amortization method. If the borrower wishes to request the use of another method, a b…

(a) An applicant for restructuring must submit an application on a form approved by the board. The applicant shall include on the application the following from each person who is included on the application to be liable on the restructured loan: (1) income tax returns for three …

If an application is incomplete, and submission is not waived, the board will send the applicant a letter requesting the information not submitted. If the applicant does not submit the requested information within 30 days after the date of the request letter, and extraordinary ci…

(a) Complete applications will be considered by the board. (b) The board may approve an application if(1) the borrower cannot repay the loan according to its existing terms from agricultural and non-agricultural income and liquidation of assets; (2) the board determines, based on…

Notes 11 AAC 39.670 Eff. 10/23/88, Register 108; repealed 6/1/2001, Register 158 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

If, after an application for restructuring is approved, the borrower substantially ceases agricultural activity, the board may increase the interest rate on the outstanding balance of the restructured loan to the commercial interest rate for non-agricultural loans. The board shal…

(a) Property subject to disposal under 11 AAC 39.700 - 11 AAC 39.770 includes real and personal property acquired by the fund through voluntary relinquishment, repossession, foreclosure, or other action arising out of agricultural loans or the sale of agricultural land under AS 0…

(a) The board may, after providing public notice on the Alaska Online Public Notice System and posting notice at the division office, approve a revocable use permit that does not exceed one year that allows a person(1) awarded the rights to purchase real property early entry onto…

(a) The board shall establish a minimum price for real property of the fund before disposal. Factors that must be considered in establishing a minimum price include(1) the assessed, appraised, or market value; (2) the length of time that the fund has owned the property; (3) the l…

(a) Except for a revocable use permit approved under 11 AAC 39.705(a), disposal of real property must be noticed to the public under 11 AAC 39.730. (b) Following public notice under 11 AAC 39.730, real property must be disposed of using one or more of the following methods: (1) c…

(a) Notice to the public of a disposal, if required under 11 AAC 39.720, shall be posted at the division offices, published in a newspaper or other periodical of general circulation in the area where the property is located, and posted on the Alaska Online Public Notice System. I…

(a) The maximum term of an installment contract may not exceed 30 years, the minimum interest rate may not be less than the effective rate provided under AS 03.l0.030(a)(4), and the minimum down payment may not be less than five percent of the purchase price. (b) Each applicant m…

Notes 11 AAC 39.750 Eff. 11/27/88, Register 108; am 5/19/90, Register 114; repealed 10/27/2002, Register 164 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. M…

A person who submits a sealed bid or offer for property being disposed of under 11 AAC 39.720(a) shall be notified of acceptance or rejection of the bid or offer within 15 days after its acceptance or rejection. Notes 11 AAC 39.760 Eff. 11/27/88, Register 108 Authority:AS 03.10.0…

(a) Except for a revocable use permit approved under 11 AAC 39.705(a) (1), if a disposal of property being offered under 11 AAC 39.700 - 11 AAC 39.770 is cropland (1) the parcel will be restricted to agricultural use and made subject to the conditions, limitations, and covenants …

The board may not grant a person a preference right to purchase, lease, or otherwise use an asset of the fund that was disposed of under AS 03.10 and this chapter. Notes 11 AAC 39.780 Eff. 11/27/88, Register 108; am 10/27/2002, Register 164 Authority:AS 03.09.040 AS 03.10.020 AS …

Notes 11 AAC 39.790 Eff. 11/27/88, Register 108; am 6/10/98, Register 146; am 6/1/2001, Register 158; repealed 10/27/2002, Register 164 With Register 164, January 2003, definitions for 11 AAC 39 are located at 11 AAC 39.990. State regulations are updated quarterly; we currently h…

(a) This chapter sets out the administrative review procedures available to a person adversely affected by a decision of the director or the board related to the fund or an asset of the fund. (b) A person adversely affected by a decision made by the director may appeal to the boa…

(a) A person adversely affected by a decision made by the director may appeal the decision to the board. A person may request expedited consideration of an appeal if the person files an affidavit that justifies expedited consideration and indicates the date by which a decision is…

(a) A person adversely affected by a decision made by the board may request the board to reconsider the decision if the person has new or additional information relevant to the decision. A person may request expedited consideration of its request for reconsideration if the person…

(a) An appeal or request for reconsideration under this chapter must (1) be in writing; (2) be filed by personal service, mail, fax, or electronic mail; (3) be signed by the appellant or the appellant's attorney, unless filed by electronic mail; an appeal or a request for reconsi…

(a) To be timely filed, an appeal or request for reconsideration must be received by the board within 30 calendar days after the written decision was issued. If the 30th day falls on a day when the division is officially closed, the appeal or request for reconsideration must be f…

(a) The board will hold an oral hearing on an appeal of a director's decision or a request for reconsideration if material questions of fact must be resolved. (b) Notice of the hearing in accordance with 11 AAC 39.031 will be given to persons known by the board to be affected by …

(a) The board will issue a written decision on an appeal of a director's decision or a request for reconsideration based on the record. (b) The board will mail, deliver, or transmit to the appellant or the appellant's representative a copy of the decision. (c) The board's decisio…

(a) Only the board may approve a modification of a loan, installment contract, land purchase agreement, easement, lease, permit, contract, or other agreement under AS 03.10 and this chapter. A person must submit a written application to the division for a modification, describe t…

(a) Except for a permit for early entry issued under 11 AAC 39.705(a) (1), the board may approve a loan, or dispose of cropland to an individual only if that individual is a resident of the state under AS 01.10.055 at the time (1) the lease, permit, or agreement is executed; and …

Notes 11 AAC 39.911 Eff. 12/1/84, Register 92; am 10/23/88, Register 108; am 6/1/2001, Register 158; am 10/18/2001, Register 160; repealed 10/27/2002, Register 164 With Register 164, January 2003, definitions for 11 AAC 39 are located at 11 AAC 39.990. State regulations are updat…

Except in case of a moratorium of loan payments under 11 AAC 39.501, when a person is delinquent on a loan, permit, lease, installment contract, or other agreement issued under AS 03.10 and this chapter, a seven-percent penalty will be assessed against the amount delinquent unles…

An applicant who submits a false statement to the board on or in support of an application is subject to AS 11.56.200 - AS 11.56.210. If the board finds that an applicant has made a false statement under this section, the board may use the false statement as grounds to deny futur…

The board will not approve a loan, contract, lease, permit, agreement or any modification, close a transaction, or disburse money to a person who is not in good financial standing, except for a person who has a loan in moratorium under 11 AAC 39.501, or when the board determines …

In this chapter, (1) "agriculture" means the science, art, and business of producing crops, insects, fish, livestock, or related byproducts; (2) "agricultural" means used in agriculture; (3) "agricultural disaster" means(A) crop failure due to disease, pests, severe weather condi…

(a) Industrial hemp, including a product derived from industrial hemp, is an agricultural crop subject to regulation by the division. (b) The purposes of this chapter are to(1) promote the research of and study methods for the growth, cultivation, and marketing of industrial hemp…

(a) A person may not produce industrial hemp in the state unless the person has obtained an industrial hemp registration from the division to participate in the Alaska Industrial Hemp Program. The division will issue the following classes of industrial hemp registrations for part…

A registration may be held by an individual at least 18 years of age or a business entity that is in good standing within the state and other jurisdictions, as applicable. Notes 11 AAC 40.030 Eff. 4/4/2020, Register 234, April 2020 Authority:AS 03.05.010 AS 03.05.030 AS 03.09.076…

(a) Except as set out in 11 AAC 40.060, an industrial hemp registration is valid for 12 consecutive months from the date it is issued. (b) An industrial hemp registration may be renewed for unlimited, additional one-year terms. Notes 11 AAC 40.040 Eff. 4/4/2020, Register 234, Apr…

(a) An applicant for registration in the Alaska Industrial Hemp Program must file an application on a form that the division prescribes. (b) An application for a new industrial hemp registration must include(1) the full legal name of the applicant; if the applicant is a business …

(a) An application for renewal of an industrial hemp registration must be filed on a form that the division prescribes, with the information and documents described in this section. A renewal application for a registration must be postmarked or received by the division not later …