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Alaska Statutes Title 10. Corporations and Associations § 10.10.210. Definitions

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In this chapter, unless the context otherwise requires,

(1) “board of directors” means the board of directors of the corporation created under this chapter;

(2) “commissioner” means the commissioner of commerce, community, and economic development;

(3) “corporation” means the Alaska Business and Industrial Development Corporation created under this chapter;

(4) “financial institution” means a banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds;

(5) “loan limit” means for any member, the maximum amount permitted to be outstanding at one time on loans made by the member to the corporation, as determined under this chapter;

(6) “member” means a financial institution authorized to do business within this state that undertakes to lend money to a corporation created under this chapter, upon its call, and in accordance with this chapter.

Cite this article: - Alaska Statutes Title 10. Corporations and Associations § 10.10.210. Definitions - last updated April 21, 2021 |

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