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AS 42.40.940

Sale or lease of the railroad

Known as the Alaska Railroad Corporation Act

The act spans §§ 42–42 (97 sections).

(a) The governor may provide for the sale or lease of the Alaska Railroad and dissolve the corporation if (1) it can be assured that the railroad will continue to operate after the sale or lease; and

(2) under the terms of the sale or lease, the state will receive the amount of money it has spent in connection with the Alaska Railroad.

(b) A sale under this section is subject to approval by law.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.