(a) The board shall employ a president. The president may not be a member of the board and serves at the pleasure of the board. The president is the chief executive officer of the bank.
(b) The board shall appoint those officers of the bank that are provided for in the bank's bylaws and as the board determines to be necessary for the effective operations of the bank. An executive, operating, administrative, or other salaried officer of the bank may not be a member of the board.
(c) The president may hire employees of the bank as may be determined necessary for the efficient performance of the functions of the bank. The board shall approve the compensation of the employees. Employees of the bank are not employees of the state and are not considered to be employees of a public organization for the purposes of AS 39.35.
Section: Previous 44.81.010 44.81.020 44.81.030 44.81.031 44.81.040 44.81.041 44.81.050 44.81.051 44.81.060 44.81.061 44.81.070 44.81.080 44.81.090 44.81.101 44.81.110 NextLast modified: November 15, 2016