Terms Used In Alaska Statutes > Title 10 > Chapter 15 > Article 2 - Formation of Cooperatives

• 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.
• 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.
• articles: means articles of incorporation. See Alaska Statutes 10.15.595
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board: means board of directors. See Alaska Statutes 10.15.595
• commissioner: means the commissioner of commerce, community, and economic development. See Alaska Statutes 10.15.595
• Contract: A legal written agreement that becomes binding when signed.
• cooperative: means a cooperative corporation subject to the provisions of this chapter. See Alaska Statutes 10.15.595
• corporation: means a corporation that is not a cooperative. See Alaska Statutes 10.15.595
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• membership stock: means a class of stock, continuous ownership of which is required for membership in a cooperative. See Alaska Statutes 10.15.595
• 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
• 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.
• 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
• writing: includes printing. See Alaska Statutes 01.10.060