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.
‹ Prev All Alaska sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.