"An Act relating to commercial fishing permit brokers; and providing for an effective date."

Section 1. of this bill amends AS 08.01.010 by adding a new paragraph to provide that the provisions of AS 08.01 apply to the regulation of commercial fishing permit brokers.

Section 2. of this bill amends AS 08.01.050(a) by adding a new paragraph to provide that the Department of Community & Economic Development is to perform administrative and budgetary services relevant to the registration of commercial fishing brokers.

Section 3. of this bill amends AS 08.01.087(a) to provide that the Department of Community & Economic Development may conduct investigations to determine whether a person has violated provisions relating to the registration of commercial fishing permit brokers.

Section 4. of this bill amends AS 08.01.087(a) to provide that the Department of Community & Economic Development may take administrative action in response to apparent violations of provisions relating to the registration of commercial fishing permit brokers.

Section 5. of this bill amends AS 08.01.102 to provide that the Department of Community & Economic Development may issue citations for violations of the registration requirement for commercial fishing permit brokers.

Section 6. of this bill amends AS 16.10 by adding a new article relating to the registration of commercial fishing permit brokers.

Sec. 16.10.570 provides for the registration of persons who engage in the business of purchasing, selling, leasing, or transferring commercial fishing permits on behalf of another person.

Sec. 16.10.575 provides that an applicant for registration as a commercial fishing permit broker shall post and maintain a $50,000 corporate surety bond. Instead of a corporate surety bond, a registered commercial fishing permit broker may post a bond with at least two individual sureties that provide real property in excess of the amount of the bond as security.

Sec. 16.10.580 provides for a legal action against a commercial fishing permit broker's bond if a person is injured by the actions of the broker.

Sec. 16.10.585 provides that a knowing violation of the statutes governing commercial fishing permit brokers is a class A misdemeanor.

Sec. 16.10.589 sets out the definitions of "commercial fishing permit" and "department".

Section 7. of the bill provides that the Department of Community & Economic Development shall issue commercial fishing permit broker registrations for calendar years 2004 and 2005 before January 1, 2004.

Section 8. of the bill provides that the provisions of AS 16.10.570 that establish the requirement for registration of commercial fishing permit brokers takes effect January 1, 2004.

Section 9. of the bill provides that the remainder of the Act takes effect immediately.

Last Updated: 02/10/2003

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