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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 150. Dividends.
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Section 140. Notice of Officer and Director Changes.
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Section 160. Share Buy-Back.
AS 10.13.150. Dividends.
- (a) A licensee may not pay or obligate itself to pay a cash dividend or dividend in kind to the licensee's shareholders
unless the payment is consistent with a dividend policy that has been adopted by the licensee and approved by the
department.
- (b) When approving dividend policies under this section, the department shall consider the special characteristics of
BIDCOs and the diverse range of dividend policies that are potentially appropriate for a BIDCO, without allowing the
licensee to engage in unsafe or unsound acts that could threaten the viability of the licensee as an ongoing BIDCO by
eroding its capital base.
- (c) The department may at any time withdraw a previous approval of a dividend policy if the department determines that the
withdrawal is necessary to prevent unsafe or unsound acts.
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