BOARD: Alaska Royalty Oil and Gas Development Advisory Board

BOARD IDENTIFICATION NUMBER: 092

DEPARTMENT: DEPARTMENT OF NATURAL RESOURCES

AUTHORITY: AS 38.06.020

STATUS: Active

SUNSET DATE:

REQUIREMENTS: Financial Disclosure

PROHIBITIONS: Conflict of Interest (see AS 38.06.035); Public members may not be state officers or employees. Four of the public members may not be, nor have been in the past five years, employed by a person whose primary business is, or who owns a controlling interest in a corporation whose primary business is, the exploration for or development, production, transportation, sale, refining, or processing of petroleum products. One of the public members shall possess experience in petroleum-related fields in such areas as exploration, development, production, or economics.

TERM: 5 years

DESCRIPTION: 8 members - 5 public members appointed by the Governor. The public members serve at pleasure of the Governor for 5-year staggered terms; plus Commissioners of Community & Economic development, the Commissioner of Revenue, and the Dept. of Natural Resources (non-voting); board elects chair from the public members.

FUNCTION: Facilitates wise development of Alaska's oil and gas royalty interests by providing means and procedures for sales, exchanges, or other disposition of interest in ways calculated to promote private economic growth.

CHAIR: Board elects.

SPECIAL FACTS: Serves at the pleasure of the Governor. Quorum - majority of voting members. Confirmation required by statute, but not permissible under the Constitution.

COMPENSATION: Standard Travel and Per Diem.

MEETINGS: Time and place determined by the chair.

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