Terms Used In Alaska Statutes > Title 14 > Chapter 42 > Article 1 - Alaska Commission On Postsecondary Education

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• board: means the state Board of Education and Early Development. See Alaska Statutes 14.60.010
• commissioner: means the commissioner of education and early development. See Alaska Statutes 14.60.010
• Contract: A legal written agreement that becomes binding when signed.
• department: means the Department of Education and Early Development. See Alaska Statutes 14.60.010
• 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.
• governing body: means the school board of a borough or city school district or a regional educational attendance area. See Alaska Statutes 14.60.010
• Intestate: Dying without leaving a will.
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• 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.
• 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
• Quorum: The number of legislators that must be present to do business.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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
• Testate: To die leaving a will.
• Trustee: A person or institution holding and administering property in trust.