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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 410. Application to Acquire Control.
previous: Section 400
. Acquiring Control of a Licensee.
next: Section 420
AS 10.13.410. Application to Acquire Control.
- (a) The department shall approve an application to acquire control of a licensee under AS 10.13.400
if the department determines that
- (1) the applicant and the directors and officers of the applicant are of good character and sound financial standing;
- (2) it is reasonable to believe that the applicant will comply with this chapter; and
- (3) the plans, if any, of the applicant to make a major change in the business, corporate structure, or management of the
licensee are not detrimental to the safety and soundness of the licensee.
- (b) If, after notice and a hearing, the department determines that the criteria for approval in (a) of this section have
not been satisfied, the department shall deny the application.
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