The department may (1) make loans to eligible applicants under AS 16.10.890 - 16.10.945 for the planning, construction, and operation of a (A) mariculture business; (B) hatchery that artificially propagates marine aquatic plants or shellfish; or (C) a shellfish enhancement project; (2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund; (3) establish amortization plans for repayment of loans, including extensions of the terms of loans; (4) allow an assumption of a loan if (A) the applicant meets the requirements established under this section; and (B) approval of the assumption would be consistent with the purposes of AS 16.10.890 - 16.10.945; (5) establish the rate of interest for loans consistent with law; (6) charge and collect fees for services provided under AS 16.10.890 - 16.10.945; (7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 16.10.890 - 16.10.945, including regulations to establish reasonable fees for services provided; and (8) designate agents and delegate powers as necessary to the agents.
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