Alaska § 16.10.333 - Loans for purchase of Alaska limited entry permits.
Full text of Alaska Alaska Statutes § 16.10.333 — Loans for purchase of Alaska limited entry permits., with citation guidance and answers to common questions.
§ 16.10.333. Loans for purchase of Alaska limited entry permits.
(a) Loans under AS 16.10.310 (a) may be made to an individual commercial fisherman for the purchase of a limited entry permit upon certification by the commission that the fisherman is a person who qualifies as a transferee for the permit under AS 16.43 and the regulations adopted by the commission.
(b) Upon approval by the commissioner, the permit to be purchased may be pledged as security for a loan under (a) of this section, if (1) the certificate for the pledged permit lists the commissioner as the legal owner of the permit;
(2) the certificate for the pledged permit lists the debtor as the equitable owner of the permit;
(3) all annual permit cards issued under the pledged permit list the name of the debtor;
(4) all obligations and responsibilities of a permit owner are assumed by the debtor;
(5) co-signers or other sureties for performance under the note are not vested with any rights in the pledged permit and their obligation is limited to satisfaction of the note and payment of costs directly incurred by the department in administering the loan.
(c) The commissioner is not liable for any act or omission resulting from permit ownership nor will that act or omission affect the commissioner's title to the permit or the commissioner's rights under it.
(d) Upon satisfaction of the note by the debtor, the commissioner shall certify to the commission that the note has been satisfied.
(e) Upon certification as provided in (d) of this section, the commission shall amend the permit certificate to list the debtor as the legal owner.
(f) [Repealed, § 34 ch 79 SLA 1985.]
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 16.10.333
What does Alaska Statutes § 16.10.333 cover?
Section 16.10.333 ("Loans for purchase of Alaska limited entry permits.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 16.10.333?
A common citation format is "Alaska Statutes § 16.10.333" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 16.10.333 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.