3 AAC 08.535. Limitation on sales expenses

(a) Expenses of an offering registered under 3 AAC 08.504 or 3 AAC 08.505, including sales expenses, acquisition expenses, expenses for preparing the offering, and other similar expenses, must be reasonable after taking into account the nature of the offering, the amount to be raised by the offering, and the proposed use of the money.

(b) If the proposed business of the issuer requires a minimum amount of proceeds to commence or continue the business in the manner proposed, those proceeds are subject to impoundment as provided under 3 AAC 08.190.

History: Eff. 4/19/2000, Register 154

Authority: AS 45.55.110

AS 45.55.950

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.