reglab/statecodes huggingface dataset:
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program. › Sec. 44.88.740. Servicing of guaranteed loans.

(a) The financial institution that holds a loan guaranteed by the authority under AS 44.88.700 - 44.88.799 shall
(1) service the loan;
(2) exercise diligence in collecting amounts due under the loan; and
(3) comply with all requirements of the loan guarantee agreement.
(b) Amounts received toward satisfaction of a default on a loan guaranteed under AS 44.88.700 - 44.88.799 shall be allocated between the lender and the revolving fund according to the guaranteed percentage of the loan until the principal balance and accrued interest have been repaid.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program. › Sec. 44.88.750. New markets tax credit assistance leveraged loan.

(a) The authority may make a new markets tax credit assistance leveraged loan under AS 44.88.700(a)(2) only if the authority determines that an applicant for a new markets tax credit assistance guarantee is unable to obtain a leveraged loan from a financial institution under commercially reasonable terms. Before making the determination, the authority shall require the applicant to document that at least two financial institutions have reviewed an application for a leveraged loan for which the authority would issue a new markets tax credit assistance guarantee for the loan, and either rejected the application or approved the application subject to terms the authority determines are commercially unreasonable. The authority may require the applicant to submit applications for a leveraged loan to one or more additional financial institutions.
(b) Subject to (a) of this section, the authority may make a new markets tax credit assistance leveraged loan under AS 44.88.700 - 44.88.799 to the applicant to finance a portion of the project using funds from the enterprise development account (AS 44.88.155).
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program. › Sec. 44.88.760. Limitations of guarantees and leveraged loans.

The combined outstanding principal balance of loan guarantees and loans under AS 44.88.700 - 44.88.799 may not exceed $40,000,000.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program. › Sec. 44.88.770. Powers of the authority.

The authority may
(1) adopt regulations to implement AS 44.88.700 - 44.88.799;
(2) establish terms and conditions for loan guarantees and loans, subject to the requirements of AS 44.88.700 - 44.88.799;
(3) make and execute contracts and other instruments to implement AS 44.88.700 - 44.88.799;
(4) charge reasonable fees and interest rates that the authority may establish by regulation for the service it provides under AS 44.88.700 - 44.88.799;
(5) acquire real or personal property by purchase, transfer, or foreclosure when the acquisition is necessary to protect the authority's interest in a loan or a loan guarantee;
(6) exercise any other power necessary to implement AS 44.88.700 - 44.88.799; and
(7) to the extent the authority considers it to be in its best interest to do so, use money to pay expenses relating to the liquidation of collateral securing loans guaranteed or made by the authority under AS 44.88.700 - 44.88.799.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program. › Sec. 44.88.799. Definitions.

In AS 44.88.700 - 44.88.799,
(1) “federal new markets tax credit program” means the program administered by the Community Development Financial Institutions Fund that arises out of 26 U.S.C. 45D (Internal Revenue Code) and related regulations;
(2) “new markets tax credit” means tax credits that arise out of 26 U.S.C. 45D (Internal Revenue Code) and related regulations;
(3) “new markets tax credit assistance leveraged loan” and “leveraged loan” mean a loan made into an investment entity, the proceeds of which, together with other funds, including tax credit equity, are invested as a qualified equity investment in a qualified community development entity that will use the funds to finance a project for which the entity allocates new markets tax credits;
(4) “qualified community development entity” has the meaning given in 26 U.S.C. 45D(c) (Internal Revenue Code) and related regulations;
(5) “qualified equity investment” means an equity investment in a qualified community development entity that satisfies the conditions described in 26 U.S.C. 45D(b) (Internal Revenue Code) and related regulations.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 10. Arctic Infrastructure Development. › Sec. 44.88.810. Arctic infrastructure development fund.

The Arctic infrastructure development fund is established in the authority. The fund consists of appropriations made to the fund by the legislature, money or other assets transferred to the fund by a majority vote of the members of the authority under AS 44.88.050 from any other fund controlled by the authority, and unrestricted loan repayments, interest, or other income earned on loans, investments, or assets of the fund. The fund is not an account in the revolving fund established in AS 44.88.060, and the authority shall account for the fund separately from the revolving fund. The authority may create additional accounts in the fund. Subject to agreements made with the holders of the authority's bonds or with other persons, the authority may transfer amounts in an account in the fund to another account in the fund. Amounts deposited in the fund may be pledged to the payment of bonds of the authority or expended for the purposes of AS 44.88.800 - 44.88.840. The authority has the powers and responsibilities established in AS 37.10.071 with respect to the investment of amounts held in the fund.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 10. Arctic Infrastructure Development. › Sec. 44.88.830. Qualified infrastructure development; powers and duties of the authority.

(a) Subject to the limitations of AS 44.88.840, for Arctic infrastructure development, the authority may
(1) use the Arctic infrastructure development fund (AS 44.88.810) to finance Arctic infrastructure development, insure project obligations, guarantee loans or bonds, and establish reserves;
(2) acquire real or personal property by purchase, transfer, or foreclosure when the acquisition is necessary to protect the authority's interest in financing;
(3) defer principal payments or capitalize interest on Arctic infrastructure development;
(4) subject to AS 36.30.085(e), enter into lease agreements, sales-lease-back agreements, build-operate-transfer and operate-transfer agreements, or any similar project financing agreement for a qualified Arctic infrastructure development;
(5) enter into agreements with government entities for the transfer and control of infrastructure, facilities, rights-of-way, and studies;
(6) contract for services with a professional advisor, including an attorney, bond counsel, engineer, or other technical expert necessary to fulfill the purposes of the program; and
(7) subject to AS 44.88.090, borrow money and issue bonds.
(b) The authority shall adopt regulations to implement AS 44.88.800 - 44.88.840, including
(1) a process for acquiring financing under this section;
(2) qualifications for Arctic infrastructure development projects applying for financing under this section; and
(3) fiscal controls and accounting procedures for the fund.
2023 Alaska Statutes › Title 44. State Government › Chapter 88. Alaska Industrial Development and Export Authority › Article 10. Arctic Infrastructure Development. › Sec. 44.88.840. Limitations on financing.

(a) Unless the authority has obtained legislative approval by law, the authority may not use the Arctic infrastructure development fund established in AS 44.88.810 to make
(1) a loan for more than one-third of the capital cost of an Arctic infrastructure development; or
(2) a loan guarantee if the amount of the guarantee exceeds $20,000,000.
(b) Financing under AS 44.88.830 is limited to the projected life of the Arctic infrastructure development, which may not be more than 40 years.
(c) Notwithstanding (a) of this section, the authority may use the Arctic infrastructure development fund established in AS 44.88.810 as security for a bond guarantee.
(d) The authority may guarantee a loan under AS 44.88.830 if the loan is made to a business with a majority interest held by state residents.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.002. Employment of radio stations.

The governor may employ one or more radio stations, located south of the Gulf of Alaska and suitable for distribution of news, executive proclamations and inquiries, information concerning the state, general information, and other matters suitable for broadcasting that the governor prescribes and that may be of service and benefit to the people to be served.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.003. Qualifications of radio station.

A radio station used for the purposes set out in AS 44.99.002 shall
(1) be licensed by the appropriate agency of the federal government to operate a broadcasting station of not less than 250 watt capacity in the state;
(2) have operated radio broadcasting continuously for a least one year before the date of its employment by the governor and during this period have broadcast daily radio programs totaling at least 75 hours in each month;
(3) have broadcast programs that have been received by the public over long wave radio receivers over a radius of at least 300 miles from the broadcasting station, and on demand shall furnish letters from the radio audience confirming reception within the required area;
(4) have invested at least $20,000 in real estate, buildings, transmitters, power equipment, antenna, radio masts, musical instruments, office equipment and other property, used or useful in the operation of the radio station exclusively.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.004. Prescribing proof of capacity and suitability of station and of service and allotment of radio time.

The governor shall prescribe the proof required of the capacity and suitability of a station for broadcasting. The governor may prescribe the service to be given, except that the state may, at its option, use not less than six hours of the station's time on the air for each $100 paid for the service. The total time to which the state is entitled shall be distributed over the period of one year. Not more than one hour may be used in any one day and not more than one-fifty-second of the total time in any one week. The governor may yield portions of the governor's allotted use of time to the University of Alaska or to state officials. A state official, except the governor, may not be allotted or use time within 30 days before a primary or general election.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.005. Cost of radio service.

The cost of the radio service is a lawful charge against the state treasury if the owner or operator of the station files an affidavit that the station has during the period covered by payment complied with AS 44.99.002 - 44.99.005 and has furnished the service.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.007. Emergency transfer of seat of government.

When, due to an emergency resulting from the effects of enemy attack or an imminent enemy attack, it becomes imprudent, inexpedient, or impossible to conduct the affairs of state government at the normal location of the state capital, the governor shall, as often as the exigencies of the situation require, declare by proclamation an emergency temporary location or locations for the seat of government at a place or places, inside or outside the state, that would not normally be considered military target sites and that the governor may consider advisable under the circumstances. The governor shall take such action and issue such orders as may be necessary for an orderly transition to the emergency temporary location or locations. The temporary location or locations shall remain the emergency seat of government until the emergency is declared to be ended by the governor and the seat of government is returned to its normal location.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.008. Validity of official action.

During the time the seat of government remains at the emergency temporary location or locations, all official acts now or hereafter required by law to be performed at the seat of government by an officer, agency, department, or authority of the state, including the convening and meeting of the legislature in regular or special session, shall be valid and binding when performed at the emergency temporary location or locations as if performed at the permanent location of the seat of government.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.020. Use of paper.

A state agency shall use both sides of paper when feasible. In this section, “state agency” means a department, institution, board, commission, division, authority, public corporation, or other administrative unit of the executive, legislative, or judicial branch of state government, including the University of Alaska, the Alaska Railroad Corporation, and legislative committees.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.030. Lobbying contracts prohibited.

(a) Notwithstanding other provisions of law, the following entities may not contract with a person to pay the person money or other thing of value to lobby the state, a municipality of the state, or an agency of the state or municipality:
(1) Alaska Aerospace Corporation;
(2) Alaska Commercial Fishing and Agriculture Bank;
(3) Alaska Energy Authority;
(4) Alaska Housing Finance Corporation;
(5) Alaska Industrial Development and Export Authority;
(6) Alaska Medical Facility Authority;
(7) Alaska Mental Health Trust Authority;
(8) Alaska Municipal Bond Bank Authority;
(9) Alaska Permanent Fund Corporation;
(10) Alaska Railroad Corporation;
(11) [Repealed, § 8 ch 2 SLA 2004.]
(12) Alaska Seafood Marketing Institute;
(13) Alaska Student Loan Corporation.
(b) In this section,
(1) “lobby a municipality or an agency of a municipality” means to engage in an activity for the purpose of influencing municipal legislative or administrative action if the activity is substantially the same as activity that would have required registration under AS 24.45.121 if the activity was for the purpose of influencing state legislative or administrative action;
(2) “lobby the state or an agency of the state” means to engage in an activity for which registration is required under AS 24.45.121.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 1. Miscellaneous Provisions. › Sec. 44.99.040. Limitation on use of assets.

(a) A state or municipal agency may not use or authorize the use of an asset to implement or aid in the implementation of a requirement of an order of the President of the United States, a federal regulation, or a law enacted by the United States Congress that is applied to
(1) infringe on a person's right, under the Second Amendment to the Constitution of the United States, to keep and bear arms;
(2) deny a person a right to due process, or a protection of due process, that would otherwise be available to the person under the Constitution of the State of Alaska or the Constitution of the United States.
(b) In this section,
(1) “asset” means funds, facilities, equipment, services, or other resources of a state or municipal agency;
(2) “state or municipal agency” means the University of Alaska, the Alaska Aerospace Corporation, the Alaska Housing Finance Corporation, the Alaska Industrial Development and Export Authority, the Alaska Energy Authority, the Alaska Railroad Corporation, or a department, institution, board, commission, division, council, committee, authority, public corporation, school district, regional educational attendance area, or other administrative unit of a municipality or of the executive, judicial, or legislative branch of state government, and includes employees of those entities.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 2. General State Policies. › Sec. 44.99.100. Declaration of state economic development policy.

(a) To further the goals of a sound economy, stable employment, and a desirable quality of life, the legislature declares that the state has a commitment to foster the economy of Alaska through purposeful development of the state's abundant natural resources and productive capacity. It is the legislature's intent that this development
(1) offer long-term benefits and increased employment to Alaskans by strengthening and diversifying the state's economic base and encouraging new activities;
(2) provide opportunities for increased personal income or reduced living costs by creating activity in economic sectors;
(3) have a positive effect on the revenue needs and fiscal conditions of the state and local communities;
(4) be undertaken after consideration of the social and economic views of citizens impacted by the development, and only after adequate protection is assured for Alaska's environment.
(b) To take advantage of investment opportunities afforded by Alaska's abundant natural resources and productive capacity, the legislature finds that the state should undertake activities that serve as a catalyst to responsible economic development in the state for the benefit of its citizens. It is the policy of the state to
(1) develop and provide information to domestic and foreign investors to use in evaluating project feasibility;
(2) with cooperation from investors, identify constraints to orderly and beneficial economic development and work with government agencies to eliminate unnecessary impediments to economic development;
(3) with cooperation from investors, identify constraints to economic development that would impede the extraction, production, and transport of resources to markets and manufactured products, and implement capital improvement or other programs to resolve the deficiencies;
(4) provide a stable tax and regulatory climate that encourages expansion of the state's economic base;
(5) encourage value-added processing in the state;
(6) improve the state's domestic and international competitive position by offering economic incentives that support the constitutional mandates for utilization, development, and conservation of natural resources.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 2. General State Policies. › Sec. 44.99.110. Declaration of state mineral policy.

The legislature, acting under art. VIII, sec. 1 of the Constitution of the State of Alaska, in an effort to further the economic development of the state, to maintain a sound economy and stable employment, and to encourage responsible economic development within the state for the benefit of present and future generations through the proper conservation and development of the abundant mineral resources within the state, including metals, industrial minerals, and coal, declares as the mineral policy of the state that
(1) mineral exploration and development be given fair and equitable consideration with other resource uses in the multiple use management of state land;
(2) mineral development be encouraged through reasonable and consistent nonduplicative regulations and administrative stipulations;
(3) mineral development and the entry into the market place of mineral products be considered in developing a statewide transportation infrastructure system;
(4) mineral development be encouraged through appropriate public information and education, scientific research, technical studies, and University of Alaska program involvement;
(5) economic development with respect to the state mineral industry be encouraged with Pacific Rim nations.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 2. General State Policies. › Sec. 44.99.120. Declaration of nuclear freeze policy.

It is the policy of the State of Alaska
(1) to recognize that the greatest challenge facing the earth is to prevent the occurrence of nuclear war by accident or design;
(2) to recognize that the nuclear arms race is dangerously increasing the risk of a holocaust that would be humanity's final war;
(3) to promote a mutual and verifiable freeze followed by reductions in nuclear warheads, missiles, and other delivery systems in order to halt the nuclear arms race and to reduce the risk of nuclear war.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 3. State Publications. › Sec. 44.99.200. Production of publications.

The publications of a state agency shall be produced at a private sector facility located in the state when practicable. The Department of Administration shall establish standards for the production of publications by state agencies, except that the Board of Regents of the University of Alaska shall establish the standards for the university. The standards shall be designed to promote simplicity, low cost, and consistency.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 3. State Publications. › Sec. 44.99.205. Use of pictures and messages.

(a) A state agency may not place a picture of an elected state official on an application form, a warrant, or a direct deposit notice provided by the agency.
(b) A state agency may not place a message on or with an application form, a warrant, or a direct deposit notice provided by the agency unless the message is
(1) from a state agency employee who is not an elected state official; and
(2) required by law, necessary for the operation of the document, related to seasonal health issues including flu shot reminders, or related to a program or activity of a state agency.
(c) In this section,
(1) “direct deposit notice” means a written notice that a deposit has been made by the state agency;
(2) “elected state official” means the governor, the lieutenant governor, a lieutenant governor who serves as acting governor or who succeeds to the office of the governor, or a legislator, including a person who has been appointed a member of the legislature by the governor to fill a vacancy in the legislature;
(3) “program” includes the permanent fund dividend program under AS 43.23 and the longevity bonus program under AS 47.45.010 - 47.45.160;
(4) “state agency” has the meaning given in AS 44.99.240(2)(A) and (B).
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 3. State Publications. › Sec. 44.99.210. Disclosures on publication.

If the actual annual costs for a publication of a state agency that are paid from the general fund exceed $1,500, or if the actual annual costs of a state agency publication that is a report required by law are paid from a source other than the general fund and exceed $1,500, the publication must include a statement that gives the name of the agency releasing the publication, the purpose of the publication, the cost for each copy of the publication, and the city and state where the printing was done. The statement must read: “This publication was released by... (name of state agency)..., produced at a cost of $..... per copy to... (statement of purpose)..., and printed in...... (city and state where printed).” If the publication is required by law, the statement must also include: “This publication is required by... (appropriate citation to Alaska law).” The statement may include, if applicable, a declaration of the revenue raised by the sale of the publication or from the purchase of advertising in the publication. The statement shall be printed in one conspicuous place in the body of the publication in a type size that is not smaller than 12 points and shall be placed in a box composed of at least two point rule. In this section, “cost for each copy” means the figure that results after dividing the total contract cost of producing the publication by the number of copies produced. This section does not apply to a publication that is intended primarily for foreign or other out-of-state use, to a program for a public ceremony of a state agency, or to materials used by a state agency to develop a market for the agency's services or products.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 3. State Publications. › Sec. 44.99.220. Review of publications.

(a) Each state agency shall
(1) compile a list of all publications the agency produces as required by law or regulation or as directed by the legislature;
(2) identify and highlight on the list compiled under (1) of this subsection the publications that are
(A) outdated, duplicative, or excessive, or that could be improved or consolidated with other publications; or
(B) currently delivered physically that could be delivered electronically; and
(3) by October 31 of every even-numbered year, electronically submit the list of publications compiled under (1) of this subsection, including the highlighted publications under (2) of this subsection, to the governor and to the senate secretary and chief clerk of the house of representatives and notify the legislature that the list is available.
(b) In addition to the budget, bills, and fiscal plan submitted under AS 37.07.020(a) and (b), in every even-numbered year, the governor shall submit a bill to eliminate or modify publication requirements for publications that have been identified under (a) of this section
(1) as outdated, duplicative, or excessive, or that could be improved or consolidated with other publications; or
(2) that could be exclusively delivered electronically.
(c) In this section, “state agency” means a department, institution, board, commission, division, authority, public corporation, or other administrative unit of the executive branch, including the University of Alaska.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 3. State Publications. › Sec. 44.99.240. Definitions.

In AS 44.99.200 - 44.99.240,
(1) “publication” means a written document, including books, brochures, flyers, manuals, newsletters, pamphlets, programs, reports, and similar documents, but does not include standard forms, letterhead stationery, letterhead envelopes, election ballots, construction plans and specifications, location and design study reports, the Alaska Statutes, the Alaska Administrative Code, the Alaska Rules of Court, publications produced by the University of Alaska press, and papers that are submitted to a publisher, including a publisher of journals and anthologies, that is not a state agency;
(2) “state agency” means
(A) a department, institution, board, commission, division, authority, public corporation, or other administrative unit of the executive branch, including the University of Alaska and the Alaska Railroad Corporation;
(B) a committee, division, or administrative unit of the legislative branch, including the Alaska Legislative Council, the leadership of each house, the office of victims' rights, and the office of the ombudsman;
(C) an administrative unit of the judicial branch, including the Alaska Judicial Council and the Commission on Judicial Conduct.
2023 Alaska Statutes › Title 44. State Government › Chapter 99. Miscellaneous Provisions and Policies › Article 4. Copyrights by State Agencies. › Sec. 44.99.400. Software copyrights.

A state agency may hold the copyright for software created by the agency or developed by a private contractor for an agency, and may enforce its rights to protect the copyright. In this section, “state agency” means a department, institution, board, commission, division, authority, public corporation, committee, or other administrative unit of the executive, judicial, or legislative branch of state government, including the University of Alaska, the Alaska Aerospace Corporation, and the Alaska Railroad Corporation.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 1. Short Title, Construction, Application, and Subject Matter of Act. › Sec. 45.01.111. Short titles.

(a) AS 45.01 - AS 45.08, AS 45.12, AS 45.14, and AS 45.29 may be cited as the Uniform Commercial Code.
(b) This chapter may be cited as the Uniform Commercial Code - General Provisions.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 1. Short Title, Construction, Application, and Subject Matter of Act. › Sec. 45.01.113. Construction of code to promote its purposes and policies; applicability of supplemental principles of law.

(a) The code shall be liberally construed and applied to promote the code's underlying purposes and policies, which are to
(1) simplify, clarify, and modernize the law governing commercial transactions;
(2) permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and
(3) make uniform the law among the various jurisdictions.
(b) Unless displaced by the particular provisions of the code, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, and other validating or invalidating cause, supplement the code's provisions.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 1. Short Title, Construction, Application, and Subject Matter of Act. › Sec. 45.01.114. Construction against implied repeal.

The code being a general act intended as a unified coverage of its subject matter, no part of it may be considered to be impliedly repealed by subsequent legislation if that construction can reasonably be avoided.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 1. Short Title, Construction, Application, and Subject Matter of Act. › Sec. 45.01.115. Severability.

If a provision or clause of the code or application of the clause or provision to a person or circumstances is held invalid, the invalidity does not affect other provisions or applications of the code that can be given effect without the invalid provision or application, and, to this end, the provisions of the code are severable.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 1. Short Title, Construction, Application, and Subject Matter of Act. › Sec. 45.01.118. Relation to Electronic Signatures in Global and National Commerce Act.

The code modifies, limits, and supersedes 15 U.S.C. 7001 - 7031 (Electronic Signatures in Global and National Commerce Act) but does not modify, limit, or supersede 15 U.S.C. 7001(c) or authorize electronic delivery of a notice described in 15 U.S.C. 7003(b).
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 2. General Definitions and Principles of Interpretation. › Sec. 45.01.212. Notice; knowledge.

(a) Subject to (f) of this section, a person has “notice” of a fact if the person
(1) has actual knowledge of it;
(2) has received a notice or notification of it; or
(3) from all the facts and circumstances known to the person at the time in question, has reason to know that it exists.
(b) “Knowledge” means actual knowledge. “Knows” has a corresponding meaning.
(c) “Discover,” “learn,” or words of similar import refer to knowledge rather than to reason to know.
(d) A person “notifies” or “gives” a notice or notification to another person by taking those steps that may be reasonably required to inform the other person in ordinary course, whether or not the other person actually comes to know of it.
(e) Subject to (f) of this section, a person “receives” a notice or notification when it
(1) comes to that person's attention; or
(2) is duly delivered in a form reasonable under the circumstances at the place of business through which the contract was made or at another location held out by that person as the place for receipt of that type of communication.
(f) Notice, knowledge, or a notice or notification received by an organization is effective for a particular transaction from the time it is brought to the attention of the individual conducting that transaction and, in any event, from the time it would have been brought to the individual's attention if the organization had exercised due diligence. An organization exercises due diligence if it maintains reasonable routines for communicating significant information to the person conducting the transaction and there is reasonable compliance with the routines. Due diligence does not require an individual acting for the organization to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 2. General Definitions and Principles of Interpretation. › Sec. 45.01.213. Lease distinguished from security interest.

(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case.
(b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to possession and use of the goods is an obligation for the term of the lease and is not subject to termination by the lessee, and the
(1) original term of the lease is equal to or greater than the remaining economic life of the goods;
(2) lessee is bound to renew the lease for the remaining economic life of the goods or is bound to become the owner of the goods;
(3) lessee has an option to renew the lease for the remaining economic life of the goods for no additional consideration or for nominal additional consideration upon compliance with the lease agreement; or
(4) lessee has an option to become the owner of the goods for no additional consideration or for nominal additional consideration on compliance with the lease agreement.
(c) A transaction in the form of a lease does not create a security interest merely because the
(1) present value of the consideration the lessee is obligated to pay the lessor for the right to possession and use of the goods is substantially equal to or greater than the fair market value of the goods at the time the lease is entered into;
(2) lessee assumes risk of loss of the goods;
(3) lessee agrees to pay, with respect to the goods, taxes, insurance, filing, recording, or registration fees, or service or maintenance costs;
(4) lessee has an option to renew the lease or to become the owner of the goods;
(5) lessee has an option to renew the lease for a fixed rent that is equal to or greater than the reasonably predictable fair market rent for the use of the goods for the term of the renewal at the time the option is to be performed; or
(6) lessee has an option to become the owner of the goods for a fixed price that is equal to or greater than the reasonably predictable fair market value of the goods at the time the option is to be performed.
(d) Additional consideration is nominal if it is less than the lessee's reasonably predictable cost of performing under the lease agreement if the option is not exercised. Additional consideration is not nominal if, when the option to
(1) renew the lease is granted to the lessee, the rent is stated to be the fair market rent for the use of the goods for the term of the renewal determined at the time the option is to be performed; or
(2) become the owner of the goods is granted to the lessee, the price is stated to be the fair market value of the goods determined at the time the option is to be performed.
(e) The remaining economic life of the goods and reasonably predictable fair market rent, fair market value, or cost of performing under the lease agreement must be determined with reference to the facts and circumstances at the time the transaction is entered into.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 2. General Definitions and Principles of Interpretation. › Sec. 45.01.214. Value.

Except as otherwise provided in AS 45.03, AS 45.04, and AS 45.05, a person gives value for rights if the person acquires them
(1) in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection;
(2) as security for, or in total or partial satisfaction of, a preexisting claim;
(3) by accepting delivery under a preexisting contract for purchase; or
(4) in return for consideration sufficient to support a simple contract.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 2. General Definitions and Principles of Interpretation. › Sec. 45.01.215. Reasonable time; seasonableness.

(a) Whether a time for taking an action required by the code is reasonable depends on the nature, purpose, and circumstances of the action.
(b) An action is taken seasonably if it is taken at or within the time agreed on or, if no time is agreed on, at or within a reasonable time.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 2. General Definitions and Principles of Interpretation. › Sec. 45.01.216. Presumptions.

Whenever the code creates a presumption with respect to a fact, or provides that a fact is presumed, the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of the nonexistence of the fact.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.301. Territorial applicability; parties' power to choose applicable law.

(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation, the parties may agree that the law of this state or of the other state or nation shall govern the parties' rights and duties.
(b) In the absence of an agreement effective under (a) of this section, and except as provided in (c) of this section, the code applies to transactions bearing an appropriate relation to this state.
(c) If one of the following provisions of the code specifies the applicable law, that provision governs, and a contrary agreement is effective only to the extent permitted by the applicable law specified by that provision:
(1) AS 45.02.402;
(2) AS 45.04.102;
(3) AS 45.05.116;
(4) AS 45.08.110;
(5) AS 45.12.105 and 45.12.106;
(6) AS 45.14.507;
(7) AS 45.29.301 - 45.29.307.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.302. Variation by agreement.

(a) Except as otherwise provided in (b) of this section or elsewhere in the code, the effect of provisions of the code may be varied by agreement.
(b) The obligations of good faith, diligence, reasonableness, and care prescribed by the code may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever the code requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.
(c) The presence in certain provisions of the code of the phrase “unless otherwise agreed,” or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.303. Course of performance, course of dealing, and usage of trade.

(a) A “course of performance” is a sequence of conduct between the parties to a particular transaction that exists if the
(1) agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and
(2) other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection.
(b) A “course of dealing” is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting the parties' expressions and other conduct.
(c) A “usage of trade” is a practice or method of dealing having the regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of a usage of trade must be proved as facts. If it is established that a usage of trade is embodied in a trade code or similar record, the interpretation of the record is a question of law.
(d) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be used as indicated in the previous sentence as to that part of the performance.
(e) Except as otherwise provided in (f) of this section, the express terms of an agreement and an applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If this construction is unreasonable,
(1) express terms prevail over course of performance, course of dealing, and usage of trade;
(2) course of performance prevails over course of dealing and usage of trade; and
(3) course of dealing prevails over usage of trade.
(f) Subject to AS 45.02.209, a course of performance is relevant to show a waiver or modification of a term inconsistent with the course of performance.
(g) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.305. Remedies to be liberally administered.

(a) The remedies provided by the code must be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed, but neither consequential or special damages nor penal damages may be had except as specifically provided in the code or by other rule of law.
(b) A right or obligation declared by the code is enforceable by action unless the provision declaring it specifies a different and limited effect.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.307. Prima facie evidence by third-party documents.

A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or another document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.308. Performance or acceptance under reservation of rights.

(a) A party who, with explicit reservation of rights, performs or promises performance or assents to performance in a manner demanded or offered by the other party does not by the performance, promise, or assent prejudice the rights reserved. The words, “without prejudice,” “under protest,” or the like are sufficient.
(b) The provisions of (a) of this section do not apply to an accord and satisfaction.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.309. Option to accelerate at will.

A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure,” or words of similar import, means that the party has power to make the acceleration or requirement only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against whom the power has been exercised.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 01. General Provisions › Article 3. Territorial Applicability and General Rules. › Sec. 45.01.310. Subordinated obligations.

An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 02. Sales › Article 1. Short Title, General Construction, and Subject Matter. › Sec. 45.02.102. Scope; certain security and other transactions excluded.

Unless the context otherwise requires, this chapter applies to transactions in goods; it does not apply to a transaction that, although in the form of an unconditional contract to sell or present sale, is intended to operate only as a security transaction, nor does this chapter impair or repeal any statute regulating sales to consumers, farmers, or other specified class of buyers.