Alaska § 37.10.085 - Financial aid to corporations by state or political subdivision.
Full text of Alaska Alaska Statutes § 37.10.085 — Financial aid to corporations by state or political subdivision., with citation guidance and answers to common questions.
§ 37.10.085. Financial aid to corporations by state or political subdivision.
(a) Except as provided in AS 14.40.458 , (c) or (d) of this section, or AS 37.10.089 , neither the state nor a political subdivision of the state may (1) make a subscription to the capital stock of a corporation;
(2) lend its credit for the use of a corporation; or
(3) borrow money for the use of a corporation.
(b) This section does not apply to debt issued by a municipality or a municipal joint insurance arrangement under AS 21.76.120 .
(c) To the extent that the political subdivision is authorized to acquire, own, or operate a public utility, it may exercise that power by acquiring and owning, in a manner consistent with law, all of the capital stock of a corporation that owns or operates a public utility. The political subdivision's authority with respect to lending its credit and borrowing money for the use of the corporation is the same as if the political subdivision had acquired the assets of the corporation.
(d) This section does not apply to investments of the assets of the public employees' retirement system established under AS 39.35 or the teachers' retirement system established under AS 14.25 , to the extent the investments are made in the stocks, bonds, and other securities of (1) a corporation licensed under AS 10.13 ; or
(2) a corporation attempting to become licensed under AS 10.13 if the corporation intends to use the proceeds to fulfill the tasks necessary to become licensed under AS 10.13 .
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 37.10.085
What does Alaska Statutes § 37.10.085 cover?
Section 37.10.085 ("Financial aid to corporations by state or political subdivision.") 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 § 37.10.085?
A common citation format is "Alaska Statutes § 37.10.085" (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 § 37.10.085 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.