- Alaska Statutes.
- Title 37. Public Finance
- Chapter 13. Alaska Permanent Fund and Corporation
- Section 206. Regulations.
previous: Section 205
. Regulations. [Repealed, Sec. 3 Ch 46 SLA 2005].
next: Section 210
. [Renumbered as AS 37.13.900
AS 37.13.206. Regulations.
- (a) The board may adopt regulations to carry out the purpose of this chapter and shall adopt regulations under
AS 37.13.120 (a). The provisions of AS 44.62 (Administrative Procedure Act) regarding the adoption of regulations do not apply
to regulations of the corporation.
- (b) The board may adopt regulations under this section by motion, by resolution, or in any other manner permitted
by the bylaws of the corporation.
- (c) Except as provided in (f) of this section, at least 15 days before the adoption, amendment, or repeal of a
regulation, the corporation shall give public notice of the proposed action by
- (1) publishing the notice in a newspaper of general circulation or trade or industry publication that the
- (2) posting the notice on the Alaska Online Public Notice System;
- (3) furnishing the notice, by electronic format, to all legislators; and
- (4) providing a copy of the notice to every person who has filed a request for notice of proposed regulation
with the corporation.
- (d) The public notice must include a statement of the time, place, and nature of the proceedings for the adoption,
amendment, or repeal of the regulation and an informative summary of the subject of the proposed action.
- (e) On the date and at the time and place designated in the notice, the corporation shall give each interested
person or the person's authorized representative, or both, the opportunity to present statements, arguments, or contentions in writing,
with or without opportunity to present them orally. The board may accept material presented by any form of communication and shall
consider all factual, substantive, and other relevant matter presented to it before adopting, amending, or repealing a regulation. A
regulation adopted, amended, or repealed by the board may vary from the informative summary specified in (d) of this section if the
subject of the action taken on the regulation remains the same and if the original notice of the proposed action was written so as to
ensure that members of the public are reasonably notified of the subject of the proposed action in order for members of the public to
determine whether their interests could be affected by the board's proposed action on that subject.
- (f) A regulation or order of repeal of a regulation under this section may be made as an emergency regulation
if, in the order of adoption, the board states the facts constituting the emergency and makes a finding that the adoption of the
regulation or repeal is necessary for the immediate preservation of the orderly operation of the corporation. The requirements of
(c) - (e) of this section do not apply to the initial adoption of an emergency regulation or repeal under this subsection; however,
upon adoption of an emergency regulation or repeal under this subsection, the corporation shall, within 10 days after that adoption,
comply with the notice procedures specified in (c) - (e) of this section. An emergency regulation or repeal adopted under this
subsection does not remain in effect for more than 120 days unless, before the expiration of that period, the corporation complies with
the procedures specified in (c) - (e) of this section.
- (g) A regulation adopted under this section takes effect immediately upon its adoption by the board or at
another time specified in the order of adoption. The regulation shall be submitted to the lieutenant governor for publication in the
Alaska Administrative Code and Register. Within 45 days after adoption of a regulation under this section, the corporation shall provide
a copy of the adopted regulation to the chair of the Administrative Regulation Review Committee (AS 24.20.400).
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