(a) When the number of outstanding entry permits for a fishery is less than the optimum number established under Alaska Stat. § 16.43.290, the commission shall issue new entry permits to applicants who are presently able to engage actively in the fishery until the optimum number is reached.

Terms Used In Alaska Statutes 16.43.330

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Contract: A legal written agreement that becomes binding when signed.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
(b) The commission shall determine equitable methods of issuance, as appropriate, under (a) of this section that assure the receipt of fair market value for the permits issued.
(c) If a salmon fishery association qualified under Alaska Stat. § 16.40.250 takes part in a fleet reduction program by expending money or incurring debt to contract with permit holders to relinquish the holders’ entry permits under Alaska Stat. § 16.43.150(i), and if this section requires additional permits to be issued for the same fishery in which the fleet reduction program was implemented, the legislature may appropriate any resulting revenue to the association for reimbursement of money expended or to retire any outstanding debt incurred for fleet reduction purposes. An appropriation under this subsection must be made within 30 years after the date the money was expended or debt incurred.
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