(a) The cash principal of the mental health trust fund shall be retained perpetually in the fund for investment by the Alaska Permanent Fund Corporation, as specified in Alaska Stat. § 37.13.300.

Terms Used In Alaska Statutes 37.14.035

  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(b) The net income of the fund shall be transferred by the corporation to the mental health trust settlement income account at the end of each fiscal year.
(c) The net income of the fund may only be utilized by the Alaska Mental Health Trust Authority for the purposes listed in Alaska Stat. § 37.14.041.
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