The department may


(1) make loans to eligible applicants under AS 44.33.665
for the purchase and installation of capstone avionics equipment;


(2) receive, take, hold, and administer any appropriation, 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 the applicant meets the requirements established under this section;


(5) establish the rate of interest for loans consistent with law;


(6) charge and collect fees for services provided under AS 44.33.650
- 44.33.690;


(7) adopt regulations under AS 44.62 necessary to carry out the provisions of AS 44.33.650
- 44.33.690, including regulations to establish reasonable fees for services provided; and


(8) designate agents and delegate powers as necessary to the agents.