Alaska § 42.40.285 - Legislative approval required.
Full text of Alaska Alaska Statutes § 42.40.285 — Legislative approval required., with citation guidance and answers to common questions.
§ 42.40.285. Legislative approval required.
Unless the legislature approves the action by law, the corporation may not (1) exchange, donate, sell, or otherwise convey its entire interest in land;
(2) issue bonds;
(3) extend railroad lines; this paragraph does not apply to a spur, industrial, team, switching, or side track;
(4) lease land for a period in excess of 95 years unless the corporation reserves the right to terminate the lease if the land is needed for railroad purposes;
(5) apply for or accept a grant of federal land within a municipality; before approving an action under this paragraph, the legislature must determine that the federal land is required for essential railroad purposes; except as otherwise provided in AS 42.40.410 , this paragraph does not apply to the application for or acceptance of a grant of federal land associated with (A) the Anchorage-Wasilla line change project on Elmendorf Air Force Base and Fort Richardson;
(B) the Fairbanks intermodal rail yard expansion project;
(C) a conveyance of rail properties of the Alaska Railroad under the original Alaska Railroad Transfer Act of 1982 as set out in Title VI, P.L. 97-468; in this subparagraph, “rail properties of the Alaska Railroad” has the meaning given in 45 U.S.C. 1202(10).
Frequently Asked Questions About Alaska § 42.40.285
What does Alaska Statutes § 42.40.285 cover?
Section 42.40.285 ("Legislative approval required.") 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 § 42.40.285?
A common citation format is "Alaska Statutes § 42.40.285" (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 § 42.40.285 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.