Alaska § 31.25.140 - Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances.
Full text of Alaska Alaska Statutes § 31.25.140 — Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances., with citation guidance and answers to common questions.
§ 31.25.140. Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances.
(a) The corporation and its subsidiaries are exempt from the provisions of AS 36.30 (State Procurement Code).
(b) The operating budget of the corporation and a subsidiary of the corporation are subject to AS 37.07 (Executive Budget Act).
(c) To further ensure effective budgetary decision making by the legislature, the board shall (1) annually review the corporation's assets, including the assets of the in-state natural gas pipeline fund under AS 31.25.100 and the Alaska liquefied natural gas project fund under AS 31.25.110 , to determine whether assets of the corporation exceed an amount required to fulfill the purposes of the corporation as defined in this chapter; in making its review, the board shall determine whether, and to what extent, assets in excess of the amount required to fulfill the purposes of the corporation during the next fiscal year are available without (A) breaching an agreement entered into by the corporation;
(B) materially impairing the operations or financial integrity of the corporation; or
(C) materially affecting the ability of the corporation to fulfill the purposes of the corporation as defined in this chapter;
(2) specifically identify in the corporation's assets the amounts that the board believes are necessary to meet the requirements of (1)(C) of this subsection; and
(3) present to the legislature by January 10 of each year a complete accounting of all assets of the corporation, including assets of the in-state natural gas pipeline fund under AS 31.25.100 and the Alaska liquefied natural gas project fund under AS 31.25.110 , and a report of the review and determination made under (1) and (2) of this subsection; the accounting shall be audited by an independent outside auditor.
Article 2. Bonds and Notes.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 31.25.140
What does Alaska Statutes § 31.25.140 cover?
Section 31.25.140 ("Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 31.25.140?
A common citation format is "Alaska Statutes § 31.25.140" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 31.25.140 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.