Alaska Statutes Title 14, Chapter 14.42, Article 02 - Alaska Student Loan Corporation

• Sec. 14.42.100 Creation of Alaska Student Loan Corporation.
  There is created the Alaska Student Loan Corporation. The corporation is a public corporation and government instrumentality within the Department of Education and Early...
• Sec. 14.42.110 Purpose of Corporation. [Repealed, Sec. 31 Ch 63 Sla 2004].
  Repealed or Renumbered
• Sec. 14.42.120 Corporation Governing Body.
  (a) The corporation shall be governed by a board of directors appointed by the governor consisting of two members of the Alaska Commission on...
• Sec. 14.42.130 Meetings of the Board.
  (a) The board shall meet at the call of its chairman and at other times as the board may determine in accordance with its...
• Sec. 14.42.140 Minutes of Meetings.
  The board shall keep minutes of each meeting and send a certified copy to the governor and to the Legislative Budget and Audit Committee.
• Sec. 14.42.150 Administration of Affairs.
  The board shall manage the assets and business of the corporation and may adopt bylaws and regulations, in accordance with AS 44.62 (Administrative Procedure...
• Sec. 14.42.160 Executive Officer.
  The executive officer of the Commission on Postsecondary Education appointed under AS 14.42.040 (a) shall serve as executive officer of the corporation. The board...
• Sec. 14.42.170 Staff.
  The employees of the Alaska Commission on Postsecondary Education shall serve as staff for the corporation.
• Sec. 14.42.190 Budget.
  The operating budget of the corporation is subject to AS 37.07 (Executive Budget Act).
• Sec. 14.42.200 General Powers.
  In addition to other powers granted in this chapter, the corporation may(1) sue and be sued in its own name;(2) adopt an official seal;(3)...
• Sec. 14.42.205 Supplemental Education Loans: Financing Program.
  (a) The purpose of this section is to provide for supplemental education loan financing to assist qualified borrowers with unmet costs of attendance at...
• Sec. 14.42.210 Education Loan Fund and Program Administration.
  (a) The education loan fund is established in the corporation. The education loan fund is a trust fund to be used to carry out...
• Sec. 14.42.215 Interest.
  (a) The corporation shall set the interest rate on a loan financed by the corporation under AS 14.43.091 - 14.43.160, 14.43.170 - 14.43.175, 14.43.710...
• Sec. 14.42.220 Bonds of the Corporation.
  (a) The corporation may borrow money and may issue bonds, on which the principal and interest are payable from its income and receipts or...
• Sec. 14.42.230 Trust Indentures and Trust Agreements.
  An issue of bonds by the corporation may be secured by a trust indenture or trust agreement between the corporation and a corporate trustee,...
• Sec. 14.42.240 Reserves and Capital Reserves.
  (a) For the purpose of securing one or more issues of bonds of the corporation, the board may establish one or more special funds,...
• Sec. 14.42.250 Validity of Pledge.
  It is the intention of the legislature that a pledge made in respect to bonds of the corporation shall be valid, perfected, and binding...
• Sec. 14.42.260 Nonliability on Bonds.
  (a) The members of the board and individuals executing the bonds of the corporation are not liable personally on the bonds or subject to...
• Sec. 14.42.265 Underwriters.
  The board may select one or more underwriters for its bonds in accordance with procedures(1) for the award of a contract under AS 36.30.200...
• Sec. 14.42.270 Pledge and Agreement of State.
  The state pledges to and agrees with holders of bonds issued by the corporation that the state will not limit or alter the rights...
• Sec. 14.42.280 Exemption From Taxation.
  The real and personal property of the corporation and its assets, income, and receipts are declared to be the property of a political subdivision...
• Sec. 14.42.290 Bonds Legal Investments for Fiduciaries.
  The bonds of the corporation are securities in which public officers and bodies of the state, municipalities, insurance companies, insurance associations, other persons carrying...
• Sec. 14.42.295 Payment to State.
  (a) The board may elect to pay the state a return of contributed capital, or a dividend, for each base fiscal year that the...
• Sec. 14.42.300 Operation of Certain Statutes Excepted.
  (a) The corporation is not a municipality as the term is defined in AS 01.10.060 . Except as provided in AS 14.42.190 , the...
• Sec. 14.42.310 Annual Audit.
  The financial records of the corporation shall be audited annually by the legislative auditor or by a certified public accountant approved by the legislative...
• Sec. 14.42.390 Definitions. [Repealed, Sec. 42 Ch 85 Sla 2001].
  Repealed or Renumbered

Last modified: November 15, 2016