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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 14. EDUCATION, LIBRARIES, AND MUSEUMS. |
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Chapter 14.43. FINANCIAL AID PROGRAMS FOR POSTSECONDARY STUDENTS. |
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Article 14.43.07. MEMORIAL EDUCATION REVOLVING LOAN FUND. |
Section 14.43.325. Funding.
Latest version.
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(a) The memorial education revolving loan fund created under AS 14.43.255 shall be funded by voluntary contributions by state employees who may contribute the value of one or more days of annual leave a year to the memorial education revolving loan fund to be credited to any one or more of the education loan accounts listed in AS 14.43.250(b) at the discretion of the donor.
(b) The Department of Administration shall pay to the account of the memorial education revolving loan fund established under AS 14.43.255 an amount equal to the value of the total number of days of annual leave contributed by state employees under (a) of this section.
(c) The administering authority may accept contributions from private sources for the memorial education revolving loan fund created under AS 14.43.255. These contributions shall be deposited in the memorial education revolving loan fund created under AS 14.43.255 to be credited to any one or more of the education loan accounts listed in AS 14.43.250(b) at the discretion of the donor. For the purpose of this subsection, "private sources" means private individuals, corporations, foundations, or other philanthropic or charitable organizations.