Article 1 Corporate Purposes and Powers 10.06.005 – 10.06.025
Article 2 Name, Registered Agent, Registered Office, and Service On Corporation 10.06.105 – 10.06.175
Article 3 Formation of Corporations 10.06.205 – 10.06.233
Article 4 Corporate Finance 10.06.305 – 10.06.390
Article 5 Shareholders and Records 10.06.405 – 10.06.438
Article 6 Directors, Officers, Employees, and Agents 10.06.450 – 10.06.490
Article 7 Amendments and Changes 10.06.502 – 10.06.526
Article 8 Organic Change 10.06.530 – 10.06.600
Article 9 Dissolution 10.06.605 – 10.06.678
Article 10 Foreign Corporations 10.06.705 – 10.06.788
Article 11 Reports, Interrogatories, Fees, Taxes, and Penalties 10.06.805 – 10.06.870
Article 12 Miscellaneous Provisions 10.06.905 – 10.06.935
Article 13 General Provisions 10.06.950 – 10.06.995

Terms Used In Alaska Statutes > Title 10 > Chapter 6 - Alaska Corporations Code

  • acknowledged: means that a document is accompanied by a certificate of its acknowledgment as provided in Alaska Stat. See Alaska Statutes 10.06.990
  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • administrator: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 45.55.990
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • affiliate: means a person that directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, a corporation subject to this chapter. See Alaska Statutes 10.06.990
  • alien: means
    (A) an individual who is not a citizen or national of the United States, or who is not lawfully admitted to the United States for permanent residence, or paroled into the United States under 8 U. See Alaska Statutes 10.06.990
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • approval of the board: means approved or ratified by the vote of the board or by the vote of a committee authorized to exercise the powers of the board, except as to matters not within the competence of the committee under Alaska Stat. See Alaska Statutes 10.06.990
  • approval of the outstanding shares: means approved by the affirmative vote of a majority of the outstanding shares entitled to vote. See Alaska Statutes 10.06.990
  • approval of the shareholders: means approved or ratified by the affirmative vote of a majority of the shares entitled to vote represented at a duly held meeting at which a quorum is present or by the written consent of shareholders (Alaska Stat. See Alaska Statutes 10.06.990
  • Arrest: Taking physical custody of a person by lawful authority.
  • articles of incorporation: means the original or restated articles of incorporation and all amendments and includes articles of merger. See Alaska Statutes 10.06.990
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • authorized shares: means the shares of all classes that the corporation may issue. See Alaska Statutes 10.06.990
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • board: means the board of directors of a domestic or foreign corporation. See Alaska Statutes 10.06.990
  • buyer: means a person who buys or agrees to buy goods or obtain services or agrees to have services rendered or furnished from a retail seller. See Alaska Statutes 45.10.220
  • cash sale price: means the price for which the seller would have sold or furnished to the buyer and the buyer would have bought or obtained from the seller the goods or services that are the subject matter of a retail installment transaction if the sale had been a sale for cash. See Alaska Statutes 45.10.220
  • charge agreement: means an instrument
    (A) entered into or performed in the state that sets out the terms of retail installment transactions that may be made under the agreement from time to time. See Alaska Statutes 45.10.220
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 10.06.990
  • commissioner: means the commissioner of family and community services. See Alaska Statutes 47.31.100
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • common shares: means shares that have no preference over other shares with respect to distribution of assets on liquidation or with respect to payment of dividends. See Alaska Statutes 10.06.990
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • contract: means a contract, other than a retail charge agreement or an instrument reflecting a sale price made under a retail charge agreement, entered into or performed in the state for a retail installment transaction. See Alaska Statutes 45.10.220
  • Contract: A legal written agreement that becomes binding when signed.
  • control: means
    (A) owning directly or indirectly, or having the power to vote, 25 percent or more of a class of voting securities of a corporation subject to this chapter. See Alaska Statutes 10.06.990
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • corporation tax: means the biennial corporation tax imposed under Alaska law on corporations. See Alaska Statutes 10.06.990
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 10.06.990
  • department: means the Department of Family and Community Services. See Alaska Statutes 47.31.100
  • department: means the Department of Family and Community Services. See Alaska Statutes 47.55.900
  • Dependent: A person dependent for support upon another.
  • designated treatment facility: has the meaning given in Alaska Stat. See Alaska Statutes 47.31.100
  • Devise: To gift property by will.
  • director: means a natural person designated in the articles of incorporation or elected by the incorporators as a director and includes a natural person and successor of that person designated, elected, or appointed by any other name or title to act as a director. See Alaska Statutes 10.06.990
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • distribution to its shareholders: means the transfer of cash or property by a corporation or its subsidiary to its shareholders without consideration, whether by way of dividend or otherwise, except a dividend in shares of the corporation, or the purchase or redemption of its shares for cash or property. See Alaska Statutes 10.06.990
  • Docket: A log containing brief entries of court proceedings.
  • domestic corporation: means a corporation for profit subject to the provisions of this chapter, but does not include a foreign corporation or a national bank. See Alaska Statutes 10.06.990
  • Donor: The person who makes a gift.
  • electronic transmission: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient of the communication and that may be directly reproduced in paper form by a recipient through an automated process. See Alaska Statutes 10.06.990
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • entire board: means the total number of directors that the corporation has if there are no vacancies. See Alaska Statutes 10.06.990
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • evaluation facility: means a health care facility that has been designated by the department to perform the evaluations described in Alaska Stat. See Alaska Statutes 47.31.100
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • five percent shareholder: means a person owning at least five percent of the shares or five percent of any class of shares of a corporation. See Alaska Statutes 10.06.990
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • foreign corporation: means a corporation for profit organized under laws other than the laws of Alaska for a purpose for which a corporation may be organized under this chapter. See Alaska Statutes 10.06.990
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • goods: includes merchandise certificates or coupons issued by a retail seller to be used in their face amount instead of cash in exchange for goods or services sold by the seller and goods, including a manufactured home, that, at the time of sale or subsequently, are to be so affixed to real property as to become a part of it, whether or not severable from it. See Alaska Statutes 45.10.220
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • gross monthly household income: means all earned or unearned income from any source of a member of the patient's household. See Alaska Statutes 47.31.100
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • home: means
    (A) the Alaska Pioneers' Home. See Alaska Statutes 47.55.900
  • household: means a patient and each person
    (A) residing with the patient. See Alaska Statutes 47.31.100
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • Joint session: When both chambers of a legislature adopt a concurrent resolution to meet together.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • liquidation preference: means amounts payable for shares of a class upon voluntary or involuntary dissolution, winding up or distribution of the entire assets of the corporation, including any cumulative dividends accrued and unpaid, in priority to shares of another class or classes. See Alaska Statutes 10.06.990
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • manufactured home: has the meaning given in AS 45. See Alaska Statutes 45.10.220
  • month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • 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
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • nighttime: means the period between sunset and sunrise. See Alaska Statutes 01.10.060
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • oath: includes affirmation or declaration. See Alaska Statutes 01.10.060
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • official fees: means the amount of the fees set by law for filing, recording, or otherwise perfecting and releasing or satisfying a retained title, lien, or other security interest created by a retail installment transaction or premiums payable for insurance in lieu of perfecting a security interest if the premiums do not exceed the fees that would otherwise normally be incurred for perfecting, filing, recording, or otherwise perfecting and releasing or satisfying a retained title, lien, or other security interest. See Alaska Statutes 45.10.220
  • on the certificate: means that a statement appears on the face of a share certificate or on the reverse of the certificate with a reference to the statement on the face. See Alaska Statutes 10.06.990
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • organic change: means a merger, consolidation, share exchange, or sale of assets other than in the regular course of business. See Alaska Statutes 10.06.990
  • Oversight: Committee review of the activities of a Federal agency or program.
  • paid-in capital: means the consideration actually received by a corporation for issuance of its shares, plus any additional amount capitalized by its board under Alaska Stat. See Alaska Statutes 10.06.990
  • parent: means an affiliate controlling a specified corporation directly or indirectly through one or more intermediaries. See Alaska Statutes 10.06.990
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • peace officer: means
    (A) an officer of the state troopers. See Alaska Statutes 01.10.060
  • person: means an individual, partnership, joint venture, corporation, association, or any other group, however organized. See Alaska Statutes 45.10.220
  • person: has the meaning given in Alaska Stat. See Alaska Statutes 45.55.990
  • person: means an individual, a corporation, a partnership, an association, a joint-stock company, an estate, a trust if the interests of the beneficiaries are evidenced by a security, an unincorporated association, a government, a political subdivision of a government, or a combination of these entities. See Alaska Statutes 10.06.990
  • 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
  • Personal property: All property that is not real property.
  • personal property: includes money, goods, chattels, things in action, and evidences of debt. See Alaska Statutes 01.10.060
  • physical disability or other reason: means inability of an individual to maintain a household without regular assistance in shopping, housekeeping, meal preparation, dressing, or personal hygiene because of physical or medical impairment, infirmity, or disability. See Alaska Statutes 47.55.900
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • preferred shares: means shares other than common shares. See Alaska Statutes 10.06.990
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • principal balance: means the cash sale price of the goods or services that are the subject matter of a retail installment contract less the amount of the buyer's down payment in money or goods or both, plus
    (A) the amounts for insurance and official fees included in the contract if a separate identified charge is made and stated in the contract for insurance and official fees. See Alaska Statutes 45.10.220
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • proxy: means a written authorization or an electronic transmission signed by a shareholder or the shareholder's attorney-in-fact giving another person power to vote with respect to the shares of the shareholder. See Alaska Statutes 10.06.990
  • proxy holder: means the person to whom a proxy is given. See Alaska Statutes 10.06.990
  • Public defender: Represent defendants who can't afford an attorney in criminal matters.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • rate: means the percentage that, when multiplied by the outstanding balance for each month or other installment period, yields the amount of the service charge for the month or period. See Alaska Statutes 45.10.220
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • redemption price: means the amount in cash, property or securities, or any combination of these, payable on shares of any class or series upon the redemption of the shares. See Alaska Statutes 10.06.990
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • remote communication: means communication by means of electronic communication, conference telephone, videoconference, the Internet, electronic transmission, or other means by which persons not physically present in the same location may communicate with and hear each other on a substantially simultaneous basis. See Alaska Statutes 10.06.990
  • resident of the state: has the meaning given "resident" in Alaska Stat. See Alaska Statutes 47.55.900
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • retail installment contract: includes
    (A) a chattel mortgage. See Alaska Statutes 45.10.220
  • retail installment transaction: means a transaction in which a retail buyer purchases goods or services from a retail seller under a retail installment contract or a retail charge agreement that provides for a service charge under which the buyer agrees to pay the unpaid balance in one or more installments. See Alaska Statutes 45.10.220
  • retained earnings: means the account of the corporation representing undistributed and uncapitalized net profits, income, gains, and losses from the date of incorporation. See Alaska Statutes 10.06.990
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • seller: means a person engaged in the business of selling goods or services to retail buyers. See Alaska Statutes 45.10.220
  • series of shares: means those shares within a class that have the same rights, preferences, privileges, and restrictions but that differ in one or more rights, preferences, privileges, or restrictions from other shares within the same class. See Alaska Statutes 10.06.990
  • Service of process: The service of writs or summonses to the appropriate party.
  • services: includes repairs, alterations, or improvements upon or in connection with real property, but does not include the services of a professional person licensed by the state, or services for which the price charged is required by law to be determined or approved by or to be filed, subject to approval or disapproval, with the United States or a state or a department, division, agency, officer, or official of either as in the case of transportation services. See Alaska Statutes 45.10.220
  • 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.
  • shareholder: means a holder of record of a share in a corporation. See Alaska Statutes 10.06.990
  • shares: means the units into which the proprietary interests in a corporation are divided. See Alaska Statutes 10.06.990
  • state: means any of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, or any other territory or possession of the United States. See Alaska Statutes 10.06.990
  • 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
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • subscriber: means one who subscribes for a share in a corporation before or after incorporation. See Alaska Statutes 10.06.990
  • subscription: includes the mark of a person who cannot write, with the name of that person written near the mark by a witness who writes the witness's own name near the name of the person who cannot write. See Alaska Statutes 01.10.060
  • Summons: Another word for subpoena used by the criminal justice system.
  • surviving corporation: means a corporation into which one or more other corporations are merged. See Alaska Statutes 10.06.990
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • time balance: means the principal balance plus the service charge. See Alaska Statutes 45.10.220
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • vacancy: when used with respect to the board means any authorized position of director that is not then filled by a duly elected director, whether caused by death, resignation, removal, change in the authorized number of directors, or otherwise. See Alaska Statutes 10.06.990
  • verified: means that a document has been certified to be true as provided in Alaska Stat. See Alaska Statutes 10.06.990
  • vote: includes authorization by written consent subject to the provisions of Alaska Stat. See Alaska Statutes 10.06.990
  • voting power: means the power to vote for the election of directors at the time a determination of voting power is made and does not include the right to vote upon the happening of a condition or event that has not yet occurred. See Alaska Statutes 10.06.990
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • writing: includes printing. See Alaska Statutes 01.10.060
  • writing: includes any form of recorded message capable of comprehension by ordinary visual means. See Alaska Statutes 10.06.990