(a) The board of trustees shall manage the assets and exercise the authority of the council and may adopt, amend, and repeal bylaws and regulations governing the manner in which the business of the council is conducted and the manner in which the council’s powers are exercised.
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Terms Used In Alaska Statutes 44.27.055

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(b) The board of trustees shall employ an executive director who is not a member of the board of trustees to supervise administration of the council. The executive director serves at the pleasure of the board of trustees.
(c) The council is exempt from Alaska Stat. Chapter 36.30 (State Procurement Code). The board of trustees shall adopt and publish procedures to govern procurement of supplies, services, professional services, and construction. The procurement procedures must include the preferences of an Alaska bidder and an Alaska veteran that are consistent with the preferences in Alaska Stat. § 36.30.321.
(d) The operating budget of the council is subject to Alaska Stat. Chapter 37.07 (Executive Budget Act).
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