(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.
Structure 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.
Sec. 14.42.120. Corporation governing body.
Sec. 14.42.130. Meetings of the board.
Sec. 14.42.140. Minutes of meetings.
Sec. 14.42.150. Administration of affairs.
Sec. 14.42.160. Executive officer.
Sec. 14.42.200. General powers.
Sec. 14.42.205. Supplemental education loans: financing program.
Sec. 14.42.210. Education loan fund and program administration.
Sec. 14.42.220. Bonds of the corporation.
Sec. 14.42.230. Trust indentures and trust agreements.
Sec. 14.42.240. Reserves and capital reserves.
Sec. 14.42.250. Validity of pledge.
Sec. 14.42.260. Nonliability on bonds.
Sec. 14.42.270. Pledge and agreement of state.
Sec. 14.42.280. Exemption from taxation.
Sec. 14.42.290. Bonds legal investments for fiduciaries.
Sec. 14.42.295. Payment to state.