Sec. 10.10.210. Definitions.
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Sec. 10.10.210. Definitions.
In this chapter, unless the context otherwise requires,
(1)“board of directors” means the board of directors of the corporation created under this chapter;
(2)“commissioner” means the commissioner of commerce, community, and economic development;
(3)“corporation” means the Alaska Business and Industrial Development Corporation created under this chapter;
(4)“financial institution” means a banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds;
(5)“loan limit” means for any member, the maximum amount permitted to be outstanding at one time on loans made by the member to the corporation, as determined under this chapter;
(6)“member” means a financial institution authorized to do business within this state that undertakes to lend money to a corporation created under this chapter, upon its call, and in accordance with this chapter.