Alaska Statutes: AS 10.13.280. Department Approval to Hold Control of Other Businesses.

Alaska Statutes. Title 10. Corporations and Associations Chapter 13. Alaska Bidco Act Section 280. Department Approval to Hold Control of Other Businesses.

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AS 10.13.280. Department Approval to Hold Control of Other Businesses.

(a) With the approval of the department, a licensee may acquire and hold control of a business not otherwise allowed under AS 10.13.250 - 10.13.270.
(b) The department may not approve an application under (a) of this section unless the department determines that

(1) the acquisition and control will not cause the amount of the licensee's investments in businesses covered by this section to exceed 15 percent of the assets of the licensee; and

(2) in the department's judgment the approval will promote the purposes of this chapter.
(c) An approval under (a) of this section may not be for a period of more than three years, unless the department determines that a longer period is necessary and consistent with the purposes of this chapter.

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