Legislative approval required. — Alaska Code § 42.40.285
Alaska Code § 42.40.285 — Legislative approval required.. Reproduced from the official Alaska Statutes, with a citation summary, verification link, and related provisions.
§ 42.40.285. Legislative approval required.
Unless the legislature approves the action by law, the corporation may not (1) exchange, donate, sell, or otherwise convey its entire interest in land;
(2) issue bonds;
(3) extend railroad lines; this paragraph does not apply to a spur, industrial, team, switching, or side track;
(4) lease land for a period in excess of 95 years unless the corporation reserves the right to terminate the lease if the land is needed for railroad purposes;
(5) apply for or accept a grant of federal land within a municipality; before approving an action under this paragraph, the legislature must determine that the federal land is required for essential railroad purposes; except as otherwise provided in AS 42.40.410 , this paragraph does not apply to the application for or acceptance of a grant of federal land associated with (A) the Anchorage-Wasilla line change project on Elmendorf Air Force Base and Fort Richardson;
(B) the Fairbanks intermodal rail yard expansion project;
(C) a conveyance of rail properties of the Alaska Railroad under the original Alaska Railroad Transfer Act of 1982 as set out in Title VI, P.L. 97-468; in this subparagraph, “rail properties of the Alaska Railroad” has the meaning given in 45 U.S.C. 1202(10).
Source: official Alaska text · Last verified 2026-08-27
At a glance
- Citation: Alaska Statutes § 42.40.285
- Jurisdiction: Alaska
- Code: Alaska Statutes
- Subject: Legislative approval required.
- Text: transcribed from the official source (verify below)
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Common questions
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The text above is transcribed from the Alaska Statutes, the codified statutes of Alaska. The official publisher link appears under "Verify the text" on this page.
What subject does Alaska Statutes § 42.40.285 address?
It addresses "Legislative approval required.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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