Alaska § 38.06.040 - Powers and duties of the board.
Full text of Alaska Alaska Statutes § 38.06.040 — Powers and duties of the board., with citation guidance and answers to common questions.
§ 38.06.040. Powers and duties of the board.
(a) The board shall (1) in accordance with the criteria set out in AS 38.06.070 , develop a plan for the wise development of the state's oil and gas royalty interests; the plan of development shall be consistent with (A) growth of the private sector of the economy;
(B) environmental standards required by law; and
(C) public fiscal stability;
(2) hold public hearings on proposed sales, exchanges, or other disposals of royalty oil or gas to determine whether the proposals comply with AS 38.06.070 ;
(3) examine proposed sales, exchanges, or other disposal of, and recommend to the legislature that it approve or disapprove a proposed sale, exchange, or other disposal of (A) the oil or gas that is obtained by the state as royalty under AS 38.05.182 ; or
(B) the rights to receive future oil or gas production under state leases; and
(4) recommend to the commissioner of natural resources the conditions relating to the sale, delivery, transportation, refining, or processing of oil or gas which the commissioner may include in the offer and sale of oil or gas obtained by the state as royalty under AS 38.05.182 .
(b) The board may (1) direct the commissioner of natural resources to solicit development plans or bids consistent with the criteria set out in AS 38.06.070 for (A) the sale, exchange, or other disposal of oil or gas obtained by the state as royalty under AS 38.05.182 ; or
(B) the sale, exchange, or other disposal of all or a portion of the rights to receive future oil or gas production under a state lease;
(2) employ an executive director, and contract for the services of professionals, persons with knowledge of economics and other disciplines, and persons with technical skills who may be necessary to assist the board in the exercise of its powers and duties; and
(3) adopt regulations under the Administrative Procedure Act ( AS 44.62 ) that are necessary for the exercise of its powers and duties.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 38.06.040
What does Alaska Statutes § 38.06.040 cover?
Section 38.06.040 ("Powers and duties of the board.") 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 § 38.06.040?
A common citation format is "Alaska Statutes § 38.06.040" (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 § 38.06.040 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.