(a) The authority shall be governed by its board of trustees.
Terms Used In Alaska Statutes 44.25.210
Contract: A legal written agreement that becomes binding when signed.
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
Quorum: The number of legislators that must be present to do business.
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.
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 board consists of seven members appointed by the governor and confirmed by the legislature. The members appointed under this subsection shall be appointed
(1) based upon their ability in financial management and investment, in land management, or in services for the beneficiaries of the trust;(2) after the governor has considered a list of persons prepared by a panel of six persons who are beneficiaries, or who are the guardians, family members, or representatives of beneficiaries; the panel shall consist of
(A) one person selected by the Alaska Mental Health Board established by Alaska Stat. § 44.29.800;(B) one person selected by the Governor’s Council on Disabilities and Special Education established by Alaska Stat. § 44.29.600;(C) one person selected by the Advisory Board on Alcoholism and Drug Abuse established by Alaska Stat. § 44.29.100;(D) one person selected by the Alaska Commission on Aging established by Alaska Stat. § 44.29.750;(E) one person selected by the Alaska Native Health Board; and(F) one person selected by the authority.(c) A member of the board appointed by the governor under (b) of this section may not
(1) be an officer or employee of the state; or(2) within the preceding two years or during the member’s term of office have an interest in, served on the governing board of, or been employed by an organization that has received, during that same period, money from the mental health trust settlement income account under a grant or contract for services.(d) A quorum of the board is four members.(e) A member of the board is entitled to
(1) an honorarium of $200 for each day or any part of a day spent at a meeting of the board, at a meeting of a subcommittee of the board, or as a representative of the board; and(2) per diem and travel expenses authorized for boards and commissions under Alaska Stat. § 39.20.180.
