(a) If the declaration provides that a power described in Alaska Stat. § 34.08.320 is to be exercised by or may be delegated to a profit or nonprofit corporation that exercises those or other powers on behalf of one or more common interest communities or for the benefit of the unit owners of one or more common interest communities, each provision of this chapter applicable to a unit owners’ association applies to the corporation, except as modified by this section.
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Terms Used In Alaska Statutes 34.08.280

  • 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.
(b) Unless it is acting in the capacity of an association described in Alaska Stat. § 34.08.310, a master association may exercise the powers set out in Alaska Stat. § 34.08.320(a)(2) only to the extent expressly permitted in the declarations of common interest communities that are part of the master association or expressly described in the delegation of power from the common interest communities to the master association.
(c) If the declaration of a common interest community provides that the executive board may delegate certain powers to a master association, the members of the executive board of the common interest community are not liable for an act or omission of the master association with respect to the delegated powers following the delegation.
(d) The rights and responsibilities of unit owners with respect to the unit owners’ association under Alaska Stat. § 34.08.330, 34.08.390, 34.08.400, 34.08.410, and 34.08.430 apply in the conduct of the affairs of a master association only to persons who elect the board of a master association, whether or not those persons are otherwise unit owners within the meaning of this chapter.
(e) If a master association is also an association described in Alaska Stat. § 34.08.310, the certificate of incorporation or other instrument creating the master association and each declaration of a common interest community that had assigned powers by the declaration or that has delegated powers to the master association, may provide that the executive board of the master association must be elected after the period of declarant control in one of the following ways:

(1) each unit owner of all common interest communities subject to the master association may elect all members of the executive board of the master association;
(2) the members of the executive boards of all common interest communities subject to the master association may elect the members of the executive board of the master association;
(3) the unit owners of each common interest community subject to the master association may elect specified members of the executive board of the master association;
(4) the members of the executive board of each common interest community subject to the master association may elect specified members of the executive board of the master association.
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