Terms Used In Alaska Statutes 44.27.040

  • 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.
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • 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

The Alaska State Council on the Arts is created as a public corporation of the state in the Department of Education and Early Development but with separate and independent legal existence. Upon termination of the council, its rights and property pass to the state.