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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 420. Determinations.
previous: Section 410
. Application to Acquire Control.
next: Section 430
AS 10.13.420. Determinations.
- (a) When the department is reviewing an application under AS 10.13.410, the department may determine that an
- (1) applicant or a director or officer of an applicant is not of good character if the person has been convicted of a
crime involving fraud or dishonesty, including a conviction based on a guilty plea or plea of nolo contendere;
- (2) applicant's plan to make a major change in the management of a licensee is detrimental to the safety and soundness of
the licensee if the plan provides for a person to become a director or officer of the licensee and the person has been
convicted of a crime involving fraud or dishonesty, including a conviction based on a guilty plea or plea of nolo
- (b) The conditions described in (a) of this section are not the only conditions upon which the department may determine
that an applicant or a director or an officer of an applicant is not of good character or that an applicant's plan to
make a major change in the management of a licensee is detrimental to the safety and soundness of the licensee.
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