Terms Used In Alaska Statutes > Title 21 > Chapter 22 - Insurance Holding Companies

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• articles of incorporation: means the original or restated articles of incorporation or articles of consolidation and all amendments to them, including articles of merger. See Alaska Statutes 10.20.920
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated. See Alaska Statutes 10.20.920
• bylaws: means the code or codes of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name or names by which the rules are designated. See Alaska Statutes 10.20.920
• commissioner: means commissioner of commerce, community, and economic development. See Alaska Statutes 10.20.920
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• domestic corporation: means a nonprofit corporation subject to the provisions of this chapter, except a foreign corporation. See Alaska Statutes 10.20.920
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• foreign corporation: means a nonprofit corporation organized under laws other than the laws of this state. See Alaska Statutes 10.20.920
• Fraud: Intentional deception resulting in injury to another.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• member: means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws. See Alaska Statutes 10.20.920
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Quorum: The number of legislators that must be present to do business.
• Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
• Service of process: The service of writs or summonses to the appropriate party.
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• writing: includes printing. See Alaska Statutes 01.10.060