(a) The corporation is not a municipality as the term is defined in Alaska Stat. § 01.10.060. Except as provided in Alaska Stat. § 14.42.190, the corporation is not subject to Alaska Stat. Title 37. For all other purposes the corporation is a political subdivision and an instrumentality of the state.

Terms Used In Alaska Statutes 14.42.300

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) The funds, income, and receipts of the corporation are not money of the state, nor may real property in which the corporation has an interest be considered land owned in fee by the state or to which the state may become entitled or in any way land belonging to the state, or state land referred to in art. VIII of the Alaska Constitution.
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