(a) The board shall employ a president. The president may not be a member of the board and serves at the pleasure of the board. The president is the chief executive officer of the bank.
(b) The board shall appoint those officers of the bank that are provided for in the bank's bylaws and as the board determines to be necessary for the effective operations of the bank. An executive, operating, administrative, or other salaried officer of the bank may not be a member of the board.
(c) The president may hire employees of the bank as may be determined necessary for the efficient performance of the functions of the bank. The board shall approve the compensation of the employees. Employees of the bank are not employees of the state and are not considered to be employees of a public organization for the purposes of AS 39.35.
Structure Alaska Statutes
Chapter 81. Commercial Fishing and Agriculture Bank
Sec. 44.81.010. Alaska Commercial Fishing and Agriculture Bank.
Sec. 44.81.020. Board of directors.
Sec. 44.81.031. Officers and employees.
Sec. 44.81.041. Structure and membership of the bank.
Sec. 44.81.061. Indemnification of directors, officers, and employees.
Sec. 44.81.101. Pledge of the state.
Sec. 44.81.200. Reports and publications.
Sec. 44.81.210. General powers of the bank.
Sec. 44.81.215. Lending powers of the bank.
Sec. 44.81.225. Small loans to nonmembers.
Sec. 44.81.231. Pledge of permits.
Sec. 44.81.236. Limitations on the pledge of permits.
Sec. 44.81.241. Initial notice of default.
Sec. 44.81.243. Bank remedies after failure to cure.
Sec. 44.81.247. Termination of permit interest.
Sec. 44.81.249. Cancellation, extension, and delivery of notices.
Sec. 44.81.250. Transfer of entry permits after foreclosure.
Sec. 44.81.260. Confidentiality of records.
Sec. 44.81.270. Audits and examinations of bank.
Sec. 44.81.300. Unclaimed distributions, redemptions, or payments.