(a) The authority may not be considered or constitute (1) a political subdivision of the state as the term is used in Alaska Stat. § 37.10.085, (2) a municipal corporation or political subdivision of the state as the terms are used in Alaska Stat. Title 29, or (3) except as provided in Alaska Stat. § 44.88.205, a state agency as the term is used in Alaska Stat. Title 37, but for all other purposes the authority constitutes a political subdivision and an instrumentality of the state as provided in this chapter.
Terms Used In Alaska Statutes 44.88.190
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.
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, or receipts of the authority may not be considered or constitute money of the state, nor may real property in which the authority 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.(c) A loan participation purchased or financed by the authority is exempt from the provisions of Alaska Stat. § 45.45.010.
