Terms Used In Alaska Statutes > Title 42 > Chapter 40 > Article 4 - Powers and Duties

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bequest: Property gifted by will.
• board: means the board of directors of the Alaska Railroad Corporation. See Alaska Statutes 42.40.980
• bonds: means bonds, bond anticipation notes, notes, refunding bonds, or other obligations. See Alaska Statutes 42.40.980
• Contract: A legal written agreement that becomes binding when signed.
• corporation: means the Alaska Railroad Corporation. See Alaska Statutes 42.40.980
• 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.
• date of transfer: means the date on which the United States Secretary of Transportation delivers the transfer documents under 45 U. See Alaska Statutes 42.40.980
• Devise: To gift property by will.
• employees: means all persons employed by the corporation including executive officers. See Alaska Statutes 42.40.980
• 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.
• 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}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• land: means any interest in real property, including tide and submerged land, and any right appurtenant to the interest. See Alaska Statutes 42.40.980
• 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}
• 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.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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
• Oversight: Committee review of the activities of a Federal agency or program.
• 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.
• 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
• property: includes real and personal property. See Alaska Statutes 01.10.060
• 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
• terms and conditions of employment: means the hours of employment, the compensation and fringe benefits, and the employer's personnel policies affecting the working conditions of the employees, but does not mean the general policies describing the function and purposes of an employer. See Alaska Statutes 42.40.980
• writing: includes printing. See Alaska Statutes 01.10.060