Title 44 — State Government
54 chapters · 1,061 sections in this title.
AS 44.81.061 Indemnification of directors, officers, and employees.
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The bank may indemnify directors, officers, and employees, or may purchase and maintain insurance on behalf of directors, officers, and employees. The indemnification and the insurance purchase and maintenance shall comply with AS 10.06.490.
AS 44.81.070 President; officers and employees. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.080 Exempt status. [Repealed, § 10 ch 109 SLA 1981.]
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[Repealed or reserved.]
AS 44.81.090 Secs. 44.81.090 , 44.81.100. Term of office and removal; quorum. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.101 Pledge of the state.
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(a) The state pledges to and agrees with any lender to the bank that the state will not limit or alter the rights and powers given to the bank by this chapter to fulfill the terms of a contract made by the bank with the lender to the bank, or in any way impair the rights and reme…
AS 44.81.110 Compensation of board members. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.120 Secs. 44.81.120 — 44.81.150. Bonds of the bank; trust indentures and trust agreements; validity of pledges; nonliability on bonds. [Repealed, § 10 ch 109 SLA 1981.]
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[Repealed or reserved.]
AS 44.81.160 Pledge of the state. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.170 Secs. 44.81.170 — 44.81.180. Exemption from taxation; bonds legal investments for fiduciaries. [Repealed, § 10 ch 109 SLA 1981.]
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[Repealed or reserved.]
AS 44.81.190 Conflicts of interest. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.200 Reports and publications.
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The board shall publish an annual report to the bank's members. The report shall be made available to the governor, the legislature, and the public. The report must include financial statements audited by independent outside auditors, a discussion of the bank's circumstances and …
AS 44.81.210 General powers of the bank.
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The bank may (1) adopt, alter, and use a corporate seal; (2) sue and be sued in the name of the bank; (3) appoint officers, employees, trustees for certificate holders, and agents, and establish their powers and duties; (4) provide technical services to members of the bank; in th…
AS 44.81.215 Lending powers of the bank.
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(a) The bank may (1) make loans to individuals, including married couples, who are residents of the state and who are engaged in commercial agriculture or fishing, including harvesters, processors, suppliers, and marketers, if at least one of the primary obligors on the loan is a…
AS 44.81.220 Transition. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.225 Small loans to nonmembers.
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(a) To facilitate the development of commercial fisheries and commercial agriculture in geographic areas in which factors such as geographic considerations, uncertainties of communication, or limited demands do not encourage normal lending activities, the bank may make small loan…
AS 44.81.230 Loans for purchase of Alaska limited entry permits. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.231 Pledge of permits.
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(a) A limited entry permit issued under AS 16.43 may be pledged by the holder as security for a loan authorized under AS 44.81.236 if the certificate for the pledged permit lists the bank as the legal owner of the permit and the pledger as the equitable owner of the permit. (b) A…
AS 44.81.235 Limitations on pledge of permits. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.236 Limitations on the pledge of permits.
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A loan may not be secured by the pledge of a limited entry permit unless the proceeds of the loan are used for (1) the purchase of a permit; (2) the purchase or lease of quota shares, individual fishing quotas, or another license, permit, or other grant of commercial fisheries ha…
AS 44.81.240 Default and foreclosure of certain loans secured by limited entry permits. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.241 Initial notice of default.
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If there is a default on a loan secured by a permit pledged under AS 44.81.231, the bank shall notify the borrowers and guarantors on the loan of the default and of the right to cure the default by sending a notice by certified mail to their last known address or addresses on fil…
AS 44.81.243 Bank remedies after failure to cure.
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If the borrowers and guarantors on a loan secured by a permit pledged under AS 44.81.231 fail to cure a default within the time stated in the notice given under AS 44.81.241, the total indebtedness owing on the loan immediately becomes due and payable to the bank, and the bank sh…
AS 44.81.245 Foreclosure.
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The bank may foreclose on a permit pledge that secures a loan by sending to the equitable owner of the permit pledged and any other borrowers and guarantors on the loan a notice of foreclosure. The notice shall be sent by certified mail to their last known address or addresses on…
AS 44.81.247 Termination of permit interest.
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(a) If a loan is not paid in full within the time specified by the notice provided for the loan under AS 44.81.245, the equitable interest in the permit identified in the notice terminates by operation of law without further notice. The commission shall cancel an entry permit car…
AS 44.81.249 Cancellation, extension, and delivery of notices.
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(a) The bank may cancel a notice provided under AS 44.81.241 or 44.81.245 by delivering a written notice of cancellation to the persons who were given the cancelled notice. The notice shall be given in the same manner as is required for the cancelled notice. (b) The bank may exte…
AS 44.81.250 Transfer of entry permits after foreclosure.
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(a) Upon foreclosure of a pledge of an entry permit under AS 44.81.241 — 44.81.249 or the termination of a debtor's interest in an entry permit under AS 44.81.247(b), the bank shall determine if the permit is subject to a buy-back program under AS 16.43.290 — 16.43.330 and, if it…
AS 44.81.260 Confidentiality of records.
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(a) The records of the bank that are identified with, or identifiable as being derived from the records of, a specific borrower, member of the bank, or applicant for a loan are confidential and may not be disclosed by the bank or by its directors, officers, employees, or agents t…
AS 44.81.270 Audits and examinations of bank.
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(a) The legislative auditor may cause the bank to be audited in the manner and under the conditions established by AS 24.20.271 for audits performed by the legislative audit division. The legislative audit division has free access to all books and papers of the bank that relate t…
AS 44.81.275 Examinations.
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(a) At intervals that are not greater than 36 months, an examiner from the department shall perform an examination of the bank. Each interval shall be determined by the commissioner. During the examination, the examiner shall evaluate the quality of the bank's loan portfolio on a…
AS 44.81.280 Prohibition on disclosure. [Repealed, § 27 ch 34 SLA 1996.]
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[Repealed or reserved.]
AS 44.81.300 Unclaimed distributions, redemptions, or payments.
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The bank may revoke a distribution of net proceeds by the bank or a redemption of or payment based upon an allocation of proceeds or upon capital stock issued by the bank if the distribution, redemption, or payment remains unclaimed six years after the date authorized for payment…
AS 44.81.350 Definitions.
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In this chapter, (1) “bank” means the Alaska Commercial Fishing and Agriculture Bank; (2) “commercial agriculture” includes commercially related activity in connection with producing, harvesting, processing, or marketing an agricultural, maricultural, or horticultural commodity, …
AS 44.83.010 Legislative finding and policy. [Repealed, § 28 ch 18 SLA 1993.]
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[Repealed or reserved.]
AS 44.83.020 Creation of authority.
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There is created the Alaska Energy Authority. The authority is a public corporation of the state in the Department of Commerce, Community, and Economic Development but with separate and independent legal existence.
AS 44.83.030 Members of the board.
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(a) The members of the board of directors of the authority are (1) the commissioner of revenue; (2) the commissioner of commerce, community, and economic development; and (3) six public members appointed by the governor as follows: (A) one member with expertise or experience in m…
AS 44.83.040 Transaction of business.
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(a) The board of directors of the authority shall elect a chair and vice-chair every two years from among its members. The powers of the authority are vested in the board of directors, and five board members constitute a quorum. Action may be taken and motions and resolutions ado…
AS 44.83.043 Officers and employees.
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[Repealed or reserved.]
AS 44.83.045 Qualifications, powers, and duties of officers and directors. [Repealed, § 27 ch 18 SLA 1993.]
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[Repealed or reserved.]
AS 44.83.050 Staff. [Repealed, § 23 ch 156 SLA 1978.]
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Article 2. Purpose and Powers.
AS 44.83.070 Purpose of the authority.
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The purpose of the authority is to promote, develop, and advance the general prosperity and economic welfare of the people of the state by providing a means of financing and operating power projects and facilities that recover and use waste energy and by carrying out the powers a…
AS 44.83.080 Powers of the authority.
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In furtherance of its corporate purposes, the authority has the following powers in addition to its other powers: (1) to sue and be sued; (2) to have a seal and alter it at pleasure; (3) to make and alter bylaws for its organization and internal management; (4) to adopt regulatio…
AS 44.83.085 Susitna River power project annual report.
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The authority shall prepare, not later than the first day of each regular session of the legislature, an annual report summarizing the status of the Susitna River power project and shall notify the legislature that the report is available.
AS 44.83.090 Power contracts and the Regulatory Commission of Alaska.
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(a) The authority shall, in addition to the other methods that it may find advantageous, provide a method by which municipal electric, rural electric, cooperative electric, or private electric utilities and regional electric authorities, or other persons authorized by law to enga…
AS 44.83.092 Authority for municipalities and utilities to enter into power sales contracts.
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Article 3. Financial Provisions. The authority and any municipality or public or private entity operating an electric utility, or a municipality or private entity and another municipality or private entity, may enter into a contract providing for or relating to the sale of electr…
AS 44.83.100 Bonds of the authority.
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(a) The authority may borrow money and may issue bonds, including but not limited to bonds on which the principal and interest are payable (1) exclusively from the income and receipts or other money derived from the project financed with the proceeds of the bonds; (2) exclusively…
AS 44.83.105 Bonds for power projects under the energy program for Alaska. [Repealed, § 28 ch 18 SLA 1993.]
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[Repealed or reserved.]
AS 44.83.110 Trust indentures and trust agreements.
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(a) In the discretion of the authority, an issue of bonds may be secured by a trust indenture or trust agreement between the authority and a corporate trustee (which may be a trust company, bank, or national banking association, with corporate trust powers, located inside or outs…
AS 44.83.120 Validity of pledge.
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It is the intention of the legislature that a pledge made in respect of bonds is considered perfected and is valid and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the authority shall immediately be subject to the lien…
AS 44.83.130 Nonliability on bonds.
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(a) Neither the members of the authority nor a person executing the bonds is liable personally on the bonds or is subject to personal liability or accountability by reason of the issuance of the bonds. (b) The bonds issued by the authority do not constitute an indebtedness or oth…
AS 44.83.140 Pledge of the state.
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The state pledges to and agrees with the holders of bonds issued under this chapter and with the federal agency which loans or contributes funds in respect to a project, that the state will not limit or alter the rights and powers vested in the authority by this chapter to fulfil…