(a) For an exchange of state land having an appraised or estimated fair market value of more than $5,000,000, the director shall hold at least two public meetings before the exchange is submitted to the legislature for approval. Meetings under this subsection may be held telephonically, except at least one meeting shall be held in person in a municipality close to the state land proposed for exchange.
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Terms Used In Alaska Statutes 38.50.120

  • 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.
  • municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
  • 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
  • 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
(b)[Repealed, Sec. 13 ch 57 SLA 2016.]
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