Terms Used In Alaska Statutes 10.15.255

  • Contract: A legal written agreement that becomes binding when signed.
  • cooperative: means a cooperative corporation subject to the provisions of this chapter. See Alaska Statutes 10.15.595
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 10.15.595
  • member: means a person who has been qualified and accepted for membership in a cooperative. See Alaska Statutes 10.15.595

When a contract recorded under Alaska Stat. § 10.15.23010.15.260 has been terminated in any manner, the cooperative shall upon demand, give a statement of termination to the member party to the contract, who may record the statement in the office of the recorder where the contract was originally recorded. The recorder shall stamp “expired” after the name of the member in the alphabetical record. The fee for the recording and stamping shall be established by the department by regulation.