reglab/statecodes huggingface dataset:
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 5. University Retirement Programs. › Sec. 14.40.661. Authority of board.

(a) The board may establish and maintain university retirement programs for eligible employees in which retirement and death benefits are provided through the purchase of annuity contracts, either fixed, variable, or a combination of fixed and variable. Participation in a university retirement program is in place of participation in a state retirement system. The university may establish retirement programs for new employees in a participating position at any time. Retirement programs must be optional.
(b) The board shall
(1) provide for the administration of the retirement programs, including procedures for resolving complaints from participating employees;
(2) designate the company or companies to which payment of the contributions required under AS 14.40.691 may be made, after considering the
(A) nature and extent of the rights and benefits that the contracts will provide to employees who elect to participate and to their beneficiaries;
(B) relation of the contractual rights and benefits to the contributions to be made under AS 14.40.661 - 14.40.799;
(C) suitability of the contractual rights and benefits to the needs and interests of employees who participate and to the interest of the university in the employment and retention of employees;
(D) ability of the designated company or companies to provide rights and benefits under the contracts; and
(E) efficacy of the contracts in the recruitment and retention of faculty and administrators;
(3) take other actions required to ensure that the retirement programs comply with applicable provisions of 26 U.S.C. 401 - 417 (Internal Revenue Code).
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 5. University Retirement Programs. › Sec. 14.40.681. Retirement system membership.

An employee participating in a university retirement program may not participate in a state retirement system during the time the employee is employed in a participating position. If the employee is later employed in a position covered by a state retirement system that is not a participating position, the employee may not continue to participate in a university retirement program and shall begin to participate in the state retirement system.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 5. University Retirement Programs. › Sec. 14.40.691. Contributions.

(a) The university shall contribute on behalf of each employee participating in the program an amount established by the board.
(b) An employee participating in the program shall contribute to the program an amount established by the board.
(c) The board may specify that contributions required by this section are made by a reduction in salary under 26 U.S.C. 403(b) or 26 U.S.C. 414(h)(2) (Internal Revenue Code).
(d) The financial officer of the university shall pay the contributions authorized or required by this section to the designated company or companies for the benefit of each participant.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 5. University Retirement Programs. › Sec. 14.40.701. Benefits.

Payment of benefits to participants of the program is the responsibility of the company or companies designated by the board and is not the responsibility of the board, the university, or the state. The benefits are payable to participants or their beneficiaries in accordance with the terms of the applicable retirement plan document.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 5. University Retirement Programs. › Sec. 14.40.799. Definitions.

In AS 14.40.661 - 14.40.799,
(1) “appropriate state retirement system” means the state retirement system that includes the employee's position;
(2) “board” means the Board of Regents of the University of Alaska;
(3) “contribution account” means the member contribution account under AS 14.25.009 - 14.25.220, the individual account under AS 14.25.310 - 14.25.590, the employee contribution account under AS 39.35.095 - 39.35.680, or the individual account under AS 39.35.700 - 39.35.990, whichever is appropriate;
(4) “employee” means an employee of the University of Alaska or a community college under AS 14.40;
(5) “participating position” means a position that is a permanent position that is at least a .5 full-time appointment and is included in the applicable retirement plan document;
(6) “program” means a university retirement program;
(7) “state retirement system” means the teachers' retirement system under AS 14.25 or the public employees' retirement system under AS 39.35;
(8) “university” means the University of Alaska.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 6. Education Trust of Alaska. › Sec. 14.40.803. Alaska advance college tuition savings fund.

(a) The Alaska advance college tuition savings fund is established as a nonlapsing fund of the University of Alaska. The purpose of the fund is to secure obligations to participants under a postsecondary education savings program operated by the University of Alaska and to enhance the ability of the university to provide (1) higher education for the people of the state; (2) wide and affordable access to higher education for residents and their children; (3) an incentive for residents to achieve higher academic standards in grades 7 - 12; and (4) an incentive for residents to continue and complete secondary and postsecondary education. The fund may be divided into separate accounts for accounting purposes.
(b) The fund consists of
(1) permanent fund dividend and cash contributions made under AS 14.40.807 under the terms of an advance college tuition savings contract;
(2) appropriations, gifts, bequests, and contributions; and
(3) income and earnings of the fund.
(c) Assets of the fund shall be expended to make payments to the university and other eligible educational institutions, including payments for refunds, redemptions, and awards under a savings contract or scholarships, costs of administration, and other obligations of the fund.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 6. Education Trust of Alaska. › Sec. 14.40.807. Contribution to the Alaska Advance College Tuition Savings Fund.

(a) Contributions to the fund under the terms of an advance college tuition savings contract may be made by direct cash payments or by contributions from the permanent fund dividend. The Department of Revenue shall
(1) prepare the permanent fund dividend application to allow an applicant or a parent, legal guardian, or other authorized representative of an applicant who is an unemancipated minor to contribute 50 percent of a dividend to the fund; and
(2) include with each application for a permanent fund dividend an explanation of the advance college tuition savings program, including the right to receive a refund, a disclosure of the potential tax liability of the fund, and disclosure of the possible general effect of the tax liability on the advance college tuition savings program.
(b) The Department of Revenue shall pay contributions directly to the fund.
(c) In order to assure the actuarial soundness of the fund, the legislature may appropriate annually to the fund the sum, certified by the board to the governor and the legislature, that is necessary to restore the fund to an amount that is actuarially sound. The board annually, before January 30, shall make and deliver to the governor and to the legislature a certificate stating the sum required to restore the fund to an amount that is actuarially sound, and that sum may be appropriated and paid to the fund during that fiscal year. This subsection does not create a debt or liability of the state.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 6. Education Trust of Alaska. › Sec. 14.40.809. Powers and duties of the University of Alaska.

(a) The Board of Regents of the University of Alaska may contract with a purchaser for the purchase of advance college tuition credits for the payment of tuition and other qualified higher education expenses for a beneficiary of any age to attend a branch of the university or other eligible educational institution to which the beneficiary is admitted. A purchaser and a beneficiary may be the same person.
(b) The board shall
(1) make appropriate arrangements as necessary to fulfill the board's obligations under an advance college tuition savings contract;
(2) establish and adopt a formal plan for administration of the advance college tuition savings program; the terms and conditions of the plan shall be considered a part of an advance college tuition savings contract;
(3) establish investment objectives, criteria, and asset allocation guidelines for the fund based on prudent institutional investor guidelines and actuarial analysis of the earnings requirements for the advance college tuition savings plan;
(4) enter into contracts or agreements considered necessary for the investment of the fund, including contracts or agreements with investment managers, consultants, and other custodians of the fund;
(5) engage a financial advisor to report annually on the investment performance of the fund;
(6) engage an independent firm of certified public accountants to audit the financial position of the fund;
(7) do all acts, whether or not expressly authorized, that the board considers necessary or proper in administering the assets of the fund;
(8) enter into reciprocal agreements with Alaska Pacific University and other eligible educational institutions or state tuition programs that the board determines to be beneficial to the advance college tuition savings program;
(9) coordinate savings options established under the Alaska advance college tuition savings program and the administration of the fund with the Education Trust of Alaska (AS 14.40.802), including the creation of common administrative and record-keeping systems, marketing programs, and operating reserves.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 6. Education Trust of Alaska. › Sec. 14.40.811. Advance college tuition savings contracts.

(a) An advance college tuition savings contract must set out or include by reference to the plan
(1) the name and date of birth of the purchaser and the beneficiary under the contract;
(2) the number of advance college tuition credits purchased under the contract;
(3) the terms and conditions under which the contract may be terminated and refunds made;
(4) the assumption of a contractual obligation by the board to provide funding for specified education benefits for the beneficiary in accordance with the terms of the plan;
(5) the period of time during which the beneficiary may receive the benefits of the contract; and
(6) other terms and conditions the board determines to be appropriate or that are required under 26 U.S.C. (Internal Revenue Code).
(b) An advance college tuition savings contract may be terminated
(1) if the board determines that the number of purchasers is insufficient to maintain the fund on an actuarially sound basis; or
(2) under other circumstances determined by the board and set out in the advance tuition savings contract or in the plan.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 40. The University of Alaska and the Community Colleges › Article 6. Education Trust of Alaska. › Sec. 14.40.817. Definitions.

In AS 14.40.803 - 14.40.817,
(1) “advance college tuition savings contract” or “contract” means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary;
(2) “beneficiary” means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code);
(3) “board” means the Board of Regents of the university;
(4) “eligible educational institution” has the meaning given in 26 U.S.C. 135(c)(3) (Internal Revenue Code);
(5) “fund” means the Alaska advance college tuition savings fund established under AS 14.40.803;
(6) “plan” means the formal plan for administration of an advance college tuition savings program adopted by the board under AS 14.40.809(b);
(7) “purchaser” means the person who is named in the contract and has the rights conferred upon a purchaser under an advance college tuition savings contract;
(8) “qualified higher education expenses” has the meaning given in 26 U.S.C. 529(e)(3) (Internal Revenue Code);
(9) “university” means the University of Alaska, including a community college affiliated with the university.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.010. Purpose, intent.

(a) [Repealed, § 42 ch 85 SLA 2001.]
(b) The legislature affirms that the legal authority for the operation and management of the statewide university system remains with the Board of Regents of the University of Alaska and the legal authority for the operation and management of other postsecondary educational programs remains with the governing boards of the other private nonprofit and proprietary institutions in the state.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.020. Officers.

The chairman and vice-chairman shall be elected from among the members of the commission for a one-year term. A member of the commission may not serve as chairman for more than two consecutive one-year terms.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.025. Meetings, rules, votes required.

The commission shall prescribe its own rules of procedure. The commission shall meet once quarterly at a time and place determined by the chairman, and at other times and places as the chairman, or a majority of the members of the commission, consider necessary. A quorum is a majority of the members of the commission. The votes of the commission members shall be recorded, and effective action requires the affirmative vote of a majority of the commission members present. A commission member may not, with respect to a matter before the commission, vote for or on behalf of, or in any way exercise the vote of, another member of the commission.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.033. Agreements for medical education.

The commission shall enter into agreements with government or postsecondary education officials of this state or other states to provide postsecondary educational services and programs to Alaska residents pursuing a medical education degree sufficient to accommodate at least 20 new program participants each year. An agreement with another state must be limited to services and programs that are unavailable in Alaska. The commission shall require a person participating in a medical education program offered under this section to agree to the repayment condition imposed under AS 14.43.510.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.035. Collection of data.

(a) The commission may require the institutions of public and private higher education and other institutions of postsecondary education in the state to submit data on costs, selection, and retention of students, enrollments, education outcomes, plant capacities and use, and other matters pertinent to effective planning and coordination, and shall furnish information concerning these matters to the governor, to the legislature, and to other state and federal agencies as requested by them.
(b) The commission may maintain a database containing information received under this section, AS 14.42.030(e)(7) and (8), and AS 23.20.110, for the purpose of compiling statewide workforce and education-related statistics and analyzing education and training outcomes. The commission may enter into cooperative agreements with state agencies, the University of Alaska, and other organizations to share data and information related to education and employment. The commission may not provide unit records to the federal government under this subsection.
(c) The commission shall, for the purposes of this section and AS 14.42.030(e)(7) and (8), remove personally identifiable information, including first name, last name, and middle name, social security number, student identification number, residential address, and mailing address, before placing the information in the database under (b) of this section. The commission is not required to remove the month or year of birth from a record under this subsection.
(d) In this section, “unit record” means information pertaining to an individual.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.040. Executive officer and staff; administration.

(a) The commission may appoint an executive director as the commission's executive officer. The executive officer is a member of the exempt service under AS 39.25.110, serves at the pleasure of the commission, and receives compensation fixed by the commission. The executive officer appoints persons to the staff positions authorized by the commission, and staff compensation is fixed by the commission. Each employee of the commission shall elect membership either in the state teachers' retirement system (AS 14.25), if qualified, or in the public employees' retirement system (AS 39.35).
(b) The Alaska Commission on Postsecondary Education is not a division in the Department of Education and Early Development. The commission, its members, executive officer, and staff are in the Department of Education and Early Development for administrative support services only, and they are not subject to the direction of the commissioner of education and early development or the state Board of Education and Early Development.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.050. Legal counsel.

(a) The attorney general is legal counsel for the commission. The attorney general shall advise the commission in legal matters arising in the discharge of its duties and represent the commission in actions to which it is a party. If, in the opinion of the commission, the public interest is not adequately represented by counsel in a proceeding, the attorney general, upon request of the commission, shall represent the public interest.
(b) The commission may employ temporary legal counsel from time to time in matters in which the commission is involved.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 1. Alaska Commission on Postsecondary Education. › Sec. 14.42.055. Consortia.

All parties that are signatory to a consortium agreement between the University of Alaska and a private university or college must abide by a decision rendered by the commission when disagreements arise or exist between the parties. For purposes of this section and AS 14.42.030, “consortium” means a cooperative arrangement between two or more public or private institutions of postsecondary education specified in agreements or memoranda of understanding to permit sharing of facilities, instructional opportunities, and other educational services in such a way that the integrity of each institution party to the consortium is preserved while at the same time the institutions cooperatively plan the academic calendar, scheduling, use of personnel and facilities, and educational programs and offerings to the maximum advantage of the students and faculties of the institutions that are parties to a consortium.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.100. Creation of Alaska Student Loan Corporation.

There is created the Alaska Student Loan Corporation. The corporation is a public corporation and government instrumentality within the Department of Education and Early Development but having a legal existence independent of and separate from the state. The corporation may not be terminated as long as it has bonds, notes, or other obligations outstanding. Upon termination of the corporation, its rights and property pass to the state.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.120. Corporation governing body.

(a) The corporation shall be governed by a board of directors appointed by the governor consisting of two members of the Alaska Commission on Postsecondary Education, each of whom is selected for the commission under AS 14.42.015(a)(1) - (2), (4) - (6), (8), or (9) and the commissioner of revenue, the commissioner of administration, and the commissioner of commerce, community, and economic development. Members of the board serve without compensation but the members who are also members of the Alaska Commission on Postsecondary Education are entitled to per diem and travel expenses authorized by law for boards and commissions under AS 39.20.180.
(b) The board shall elect a chairman from among its membership at its annual meeting each year. A majority of the members constitute a quorum for organizing the board, conducting its business, and exercising the powers of the corporation.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.130. Meetings of the board.

(a) The board shall meet at the call of its chairman and at other times as the board may determine in accordance with its regulations.
(b) Public notice of a meeting of the board at which the issuance of corporation bonds is authorized shall be provided at least 24 hours before the meeting.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.150. Administration of affairs.

The board shall manage the assets and business of the corporation and may adopt bylaws and regulations, in accordance with AS 44.62 (Administrative Procedure Act), governing the manner in which the business of the corporation is conducted and the manner in which its powers are exercised. The board shall delegate supervision of the administration of the corporation to the executive officer of the corporation.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.160. Executive officer.

The executive officer of the Commission on Postsecondary Education appointed under AS 14.42.040(a) shall serve as executive officer of the corporation. The board shall prescribe the duties of the executive officer.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.205. Supplemental education loans: financing program.

(a) The purpose of this section is to provide for supplemental education loan financing to assist qualified borrowers with unmet costs of attendance at a postsecondary institution approved by the commission.
(b) The corporation may develop and establish a financing program for the Alaska supplemental education loan administered by the commission under AS 14.43.170 - 14.43.175.
(c) The financing program established under (b) of this section
(1) shall
(A) provide that loans under the Alaska supplemental education loan program are medium-range and long-range fixed-rate and variable-rate loans;
(B) require terms and conditions for loans under the Alaska supplemental education loan program as the corporation determines are useful and feasible;
(C) be designed to
(i) assist postsecondary institutions in this state in attracting and retaining students;
(ii) maximize the amount of financing available by using private activity tax-exempt bond capacity as may be allocated by the state; and
(2) except as limited by (1)(B) of this subsection, may provide for terms and conditions that are more attractive than prevailing terms and conditions available to students from other supplemental education lenders.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.210. Education loan fund and program administration.

(a) The education loan fund is established in the corporation. The education loan fund is a trust fund to be used to carry out the purposes of AS 14.42.100 - 14.42.990, AS 14.43.091 - 14.43.175, 14.43.600 - 14.43.700, 14.43.710 - 14.43.750, 14.43.990, and AS 14.44.025. The fund consists of money or assets appropriated or transferred to the corporation for the fund and money or assets deposited in it by the corporation. The corporation may establish separate accounts in the fund.
(b) Money and other assets of the education loan fund may be used to
(1) secure bonds of the corporation;
(2) pay the costs of administration of the fund;
(3) invest in education loans and investments under AS 37.10.071;
(4) finance programs approved under AS 14.43.091 - 14.43.175, 14.43.600 - 14.43.700, 14.43.710 - 14.43.750, or AS 14.44.040; and
(5) pay the costs of administering and collecting the loans and repayment obligations under the financial aid programs listed in (4) of this subsection.
(c) The financial aid programs listed in (b)(4) of this section shall be administered by the commission. The corporation and the commission may enter into agreements relating to the administration of the programs. The corporation may assign its rights under the agreements for the benefit and security of holders of its bonds.
(d) The corporation may provide for terms and conditions for use of the education loan fund that are more favorable than prevailing terms and conditions available to students from other education lenders.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.215. Interest.

(a) The corporation shall set the interest rate on a loan financed by the corporation under AS 14.43.091 - 14.43.160, 14.43.170 - 14.43.175, 14.43.710 - 14.43.750, and AS 14.44.040. Interest on a loan accrues from the time the loan is disbursed.
(b) A borrower may elect to make payments of interest that accrues during the borrower's term of attendance at the postsecondary institution or during authorized deferment periods; however, any unpaid interest shall be capitalized as part of the principal to be repaid as agreed, or upon graduation, withdrawal, or completion of the deferment period.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.220. Bonds of the corporation.

(a) The corporation may borrow money and may issue bonds, on which the principal and interest are payable from its income and receipts or other assets or a designated part or parts of them. The corporation may use the proceeds of its bonds for any purposes that the corporation considers appropriate, including providing money to
(1) make or purchase education loans;
(2) finance programs identified in AS 14.42.210;
(3) finance projects of the state as those projects may be identified by law; and
(4) pay for any other purpose or program of the corporation that is authorized in AS 14.42.100 - 14.42.310.
(b) Bonds may be authorized only by resolution of the board. Bonds shall be dated, bear interest at the rate or rates, be in the denominations, be in the form, either coupon or registered, carry the registration privileges, be executed in the manner, be payable in the medium of payment, at the place or places, be subject to the terms of redemption, and mature as provided by the resolution or a subsequent resolution. However, a bond may not mature more than 40 years after the date it is issued.
(c) Bonds of the corporation, regardless of form or character, are negotiable instruments for all the purposes of AS 45.01 - AS 45.08, AS 45.12, AS 45.14, and AS 45.29 (Uniform Commercial Code).
(d) Bonds of the corporation may be sold at public or private sale in the manner, for the price or prices, and at the time or times that the board determines.
(e) The superior court has jurisdiction to hear and determine proceedings relating to the corporation, including proceedings brought by or for the benefit of a bondholder or by a trustee for or other representative of a bondholder.
(f) [Repealed, § 31 ch 63 SLA 2004.]
(g) The corporation may not issue bonds to finance projects under (a)(3) of this section in an aggregate amount that exceeds $280,000,000.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.230. Trust indentures and trust agreements.

An issue of bonds by the corporation may be secured by a trust indenture or trust agreement between the corporation and a corporate trustee, which may be a trust company, bank, or national banking association, with corporate trust powers, located inside or outside the state, or by a secured loan agreement or other instrument or under a resolution giving powers to a corporate trustee by means of which the corporation may
(1) enter into agreements with the trustee or the bondholders that the board determines to be necessary or desirable, including covenants, provisions, limitations, and other agreements as to the
(A) application, investment, deposit, use, and disposition of the proceeds of bonds of the corporation or of money or other property of the corporation or in which it has an interest;
(B) fixing and collecting of payments and other consideration for an education loan or repayment obligation;
(C) assignment by the corporation of its rights in an education loan or repayment obligation or in a mortgage or other security interest created with respect to an education loan or repayment obligation to a trustee for the benefit of bondholders;
(D) terms and conditions upon which additional bonds of the corporation may be issued;
(E) vesting in a trustee of rights, powers, duties, funds, or property in trust for the benefit of bondholders, including the right to enforce payment, performance, and other rights of the corporation or of the bondholders, under an education loan or repayment obligation or a security interest created with respect to an education loan or repayment obligation;
(2) pledge, mortgage, or assign money, agreements, property, or other assets of the corporation either presently in hand or to be received in the future, or both; and
(3) provide for other matters that in any way affect the security or protection of the bonds.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.250. Validity of pledge.

It is the intention of the legislature that a pledge made in respect to bonds of the corporation shall be valid, perfected, and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the corporation shall immediately be subject to the lien of the pledge without physical delivery or further act; and that the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the corporation irrespective of whether the parties have notice. Neither the resolution, trust agreement, nor other instrument by which a pledge is created need be recorded or filed under the provisions of AS 45.01 - AS 45.08, AS 45.12, AS 45.14, and AS 45.29 (Uniform Commercial Code) to be valid, perfected, binding, or effective.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.260. Nonliability on bonds.

(a) The members of the board and individuals executing the bonds of the corporation are not liable personally on the bonds or subject to personal liability or accountability by reason of the issuance of the bonds.
(b) The bonds issued by the corporation do not constitute an indebtedness or other liability of the state or of a political subdivision of the state, except the corporation, but shall be payable solely from the income and receipts or other funds or property of the corporation. The corporation may not pledge the faith or credit of the state, or of a political subdivision of the state, except the corporation, to the payment of a bond. Issuance of a bond by the corporation does not directly, indirectly, or contingently obligate the state or a political subdivision of the state to apply money from, or levy or pledge any form of taxation whatever to the payment of the bond.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.265. Underwriters.

The board may select one or more underwriters for its bonds in accordance with procedures
(1) for the award of a contract under AS 36.30.200 - 36.30.260; or
(2) adopted by regulations of the board that are based on the competitive principles of AS 36.30.200 - 36.30.260 and are adapted to the special needs of the corporation in the selling of its bonds as determined by the board.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.270. Pledge and agreement of state.

The state pledges to and agrees with holders of bonds issued by the corporation that the state will not limit or alter the rights and powers vested in the corporation under AS 14.42.100 - 14.42.990 to fulfill the terms of a contract made by the corporation with the bondholders or in any way impair the rights and remedies of the bondholders until the bonds, together with the interest on them with interest on unpaid installments of interest, and all costs and expenses in connection with an action or proceeding by or on behalf of the bondholders, are fully met and discharged. The corporation may include this pledge and agreement of the state in a contract with bondholders.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.280. Exemption from taxation.

The real and personal property of the corporation and its assets, income, and receipts are declared to be the property of a political subdivision of the state and devoted to an essential public and governmental function and purpose, and the property, assets, income, receipts, and other interests of the corporation are exempt from all taxes and special assessments of the state or a political subdivision of the state, including municipalities, school districts, public utility districts, and other governmental units. Bonds of the corporation are declared to be issued by a political subdivision of the state and for an essential public and governmental purpose, and the bonds, interest on them, income from them, and transfer of them, and all assets, income, and receipts pledged to pay or secure the payment of the bonds, or interest on them, are exempt from taxation by or under the authority of the state, except for inheritance and estate taxes and taxes on transfers by or in contemplation of death.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.290. Bonds legal investments for fiduciaries.

The bonds of the corporation are securities in which public officers and bodies of the state, municipalities, insurance companies, insurance associations, other persons carrying on an insurance business, banks, bankers, trust companies, savings banks, savings associations, building and loan associations, investment companies, other persons carrying on a banking business, administrators, guardians, executors, trustees, other fiduciaries, and other persons who are authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them. Notwithstanding any other provisions of law, the bonds of the corporation are also securities that may be deposited with and may be received by public officers and bodies of the state and municipalities for any purpose for which the deposit of bonds or other obligations of the state is now or may be authorized.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.295. Payment to state.

(a) The board may elect to pay the state a return of contributed capital, or a dividend, for each base fiscal year that the corporation's net income equals or exceeds $2,000,000. The payment may not be less than 10 percent nor more than 35 percent, as approved by the board, of the corporation's net income for the base fiscal year, and is subject to the provisions of any applicable bond indentures of the corporation. If a payment is authorized under this section, payment must be made available by the corporation before the end of the fiscal year in which payment has been authorized. The corporation shall notify the commissioner of revenue when the amount of the payment authorized under this section is available for appropriation.
(b) In this section,
(1) “base fiscal year” means the fiscal year ending two years before the end of the fiscal year in which a payment under this section is to be made available;
(2) “contributed capital” means the assets appropriated by sec. 2, ch. 93, SLA 1987, in the form of unrestricted receipts of loans;
(3) “dividend” means return of surplus as reflected in the equity section of the corporation's audited financial statements for the education loan fund (AS 14.42.210);
(4) “net income” means the corporation's net income as set out in the audited financial statements of the corporation for the base fiscal year.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.300. Operation of certain statutes excepted.

(a) The corporation is not a municipality as the term is defined in AS 01.10.060. Except as provided in AS 14.42.190, the corporation is not subject to AS 37. For all other purposes the corporation is a political subdivision and an instrumentality of the state.
(b) The funds, income, and receipts of the corporation are not money of the state, nor may real property in which the corporation 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.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 2. Alaska Student Loan Corporation. › Sec. 14.42.310. Annual audit.

The financial records of the corporation shall be audited annually by the legislative auditor or by a certified public accountant approved by the legislative auditor. The legislative auditor may prescribe the form and content of the financial records of the corporation and shall have access to these records at any time.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 42. Postsecondary Education Commission and Loan Corporation › Article 3. General Provisions. › Sec. 14.42.990. Definitions.

In this chapter, unless the context requires otherwise,
(1) “board” means the board of directors of the corporation;
(2) “commission” means the Alaska Commission on Postsecondary Education created in AS 14.42.015;
(3) “corporation” means the Alaska Student Loan Corporation created in AS 14.42.100;
(4) “education loan” means a loan that is eligible for financing or is financed from the education loan fund established in AS 14.42.210;
(5) “eligible student” means an individual who meets the eligibility requirements established by the federal guaranteed student loan program or as otherwise set out in this chapter;
(6) “federal guaranteed student loan program” means the programs of the United States government that make postsecondary educational financial aid available under 20 U.S.C. 1070 - 1099c-2, as amended;
(7) “repayment obligation” means an obligation to repay financial support that is financed from the education loan fund established in AS 14.42.210 or otherwise administered by the commission.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 1. University of Alaska Scholarships for High School Graduates. › Sec. 14.43.010. Scholarships for dormitory rent.

The high school student in each graduating class in each high school in the state who, upon the completion of four years of high school work in a high school in the state, obtains the highest average standing for all the credits earned, and who is graduated at an annual commencement is entitled to receive, during dormitory residence at the University of Alaska, a scholarship covering dormitory rent for a period of two years following the year of graduation upon presenting to the registrar of the university a certificate signed by the superintendent or principal of the high school from which the student graduated stating that the graduate named is entitled to receive the benefits of the scholarship. Dormitory residence is governed by the rules and regulations established by the Board of Regents.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 1. University of Alaska Scholarships for High School Graduates. › Sec. 14.43.015. Alternate upon refusal or failure to accept.

If a person entitled to receive the benefit of AS 14.43.010 declines or fails to accept it, the graduate next in line in class standing is entitled to receive the benefit.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 1. University of Alaska Scholarships for High School Graduates. › Sec. 14.43.020. Applications for and issuance and report of certificates.

A certificate shall be applied for and issued to a graduate before August 2 of each year and shall be reported immediately to the registrar of the University of Alaska by the superintendent or principal issuing it.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 1. University of Alaska Scholarships for High School Graduates. › Sec. 14.43.025. Forfeiture of scholarship benefits.

Failure to do passing work in more than one subject during a semester, or withdrawal or expulsion from the University of Alaska, constitutes a forfeiture during the following semester or semesters of the benefits of AS 14.43.010 and 14.43.015.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 1. University of Alaska Scholarships for High School Graduates. › Sec. 14.43.030. Payment of scholarships.

Payment of the scholarships shall be made monthly to the University of Alaska upon vouchers drawn upon the Department of Administration and duly certified by the treasurer and the president of the Board of Regents. Payments may not be made in excess of amounts specifically appropriated for this purpose.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 2. University of Alaska Scholarships for Natives. › Sec. 14.43.050. Purpose of scholarships.

Because of the language difficulty and economic conditions of the Native peoples of the state, and the necessity for integrating the Native cultures with the state economy, it is the purpose of the legislature to provide assistance to Natives who wish to pursue a higher education beyond the attainments possible in the free public schools system.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 2. University of Alaska Scholarships for Natives. › Sec. 14.43.055. Scholarships.

The Board of Regents of the University of Alaska shall offer not more than 15 new scholarships for each academic year to Alaska Natives desiring to attend the University of Alaska. The board shall give preference to Natives residing in the rural areas of the state who desire to receive training in the field of education. If there are more than 15 applications the board shall award 15 scholarships to those applicants who have the highest scholastic record or who the board determines are the most qualified among the applicants and who are financially unable to obtain a higher education without assistance. The University of Alaska shall provide such minimum financial assistance to these students as is necessary in each individual case, but not exceeding fees, board, and room.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 2. University of Alaska Scholarships for Natives. › Sec. 14.43.060. Continuation of scholarships.

The award of free room and board shall be made from any funds available to the University of Alaska. Each Native who receives a scholarship under AS 14.43.050 - 14.43.075 is entitled to retain the scholarship and to receive free room and board during attendance at the University of Alaska as long as the student maintains a grade average equivalent to a “C” or better. However, no Native is entitled to the scholarship for more than four years, or for more than the number of years necessary to receive a bachelor's degree.
2023 Alaska Statutes › Title 14. Education, Libraries, and Museums › Chapter 43. Financial Aid Programs for Postsecondary Students › Article 2. University of Alaska Scholarships for Natives. › Sec. 14.43.065. Scholarships in addition to other scholarships.

The scholarships under AS 14.43.050 - 14.43.075 are supplemental and in addition to any other scholarship to which an applicant is entitled or may receive.