Section 31.25.010. Structure.

The Alaska Gasline Development Corporation is a public corporation and government instrumentality acting in the best interest of the state for the purposes required by AS 31.25.005, located for administrative purposes in the Department of Commerce, Community, and Economic 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. The corporation may dissolve when no bonds, notes, or other obligations of the corporation or a subsidiary of the corporation are outstanding and the corporation or a subsidiary of the corporation is no longer engaged in the development, financing, construction, or operation of an in-state natural gas pipeline or an Alaska liquefied natural gas project. Upon termination of the corporation, its rights and property pass to the state.

Authorities

31.25.270;38.34.099;38.35.140;40.25.120

Notes

Recent Bills that will modify this

HB 362 TRANSFER DUTIES: COMMERCE TO REVENUE

References

AS 31.25.270 Annual report; final report.
AS 38.34.099 Definitions.
AS 38.35.140 Payment of rental and costs.
AS 40.25.120 Public records; exceptions; certified copies.

History

(Sec. 3 ch 11 SLA 2013; am Sec. 8 ch 14 SLA 2014)