2017 Alaska Statutes
Title 10. Corporations and Associations
Chapter 10. Business and Industrial Development Corporation Act
Sec. 10.10.210. Definitions.
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.
