9 AAC 16.060. Change in information

(a) Any statement required under AS 45.66.050 for a material change in information must be

(1) submitted using the department's form entitled Alaska Business Opportunity Notice of Material Change in Information, as revised as of February 9, 2005 and adopted by reference; and

(2) made under penalty of unsworn falsification in violation of AS 11.56.210 .

(b) To be timely filed, the statement required under AS 45.66.050 must be

(1) hand delivered to the department's Anchorage office within 10 days after the material change; or

(2) sent by certified mail, return receipt requested, to the department's Anchorage office within 10 days after the material change.

(c) The department will consider a change in information provided under AS 45.66.020 or 45.66.030 to be a material change if a substantial likelihood exists that a reasonable prospective buyer would consider the change significant in making a decision to purchase the business opportunity. Material changes include

(1) a change in the surety or in the status or expiration date of the bond required under AS 45.66.060 ;

(2) an increase or decrease in the initial payment or additional payments charged by the seller;

(3) a change in the seller's management or in the owner of the seller;

(4) a change in the seller's or buyer's obligations under the contract or related agreements;

(5) the initiation of, or a significant change in the status of, a civil, criminal, or administrative action or proceeding in which the seller, the seller's agent, or the seller's representative is a party, and involving a charge or allegation set out in AS 45.66.020 (b)(3); for purposes of this paragraph,

(A) the initiation of a civil, criminal, or administrative action or proceeding includes the filing of a complaint or indictment; and

(B) a significant change in the status of a civil, criminal, or administrative action or proceeding includes entry of a judgment or order relating to any business opportunity offered by the seller, the seller's agent, or the seller's representative.

History: Eff. 3/23/2005, Register 173

Authority: AS 45.66.050

AS 45.66.240

Editor's note: The Department of Law's Alaska Business Opportunity Notice of Material Change in Information, adopted by reference in 9 AAC 16.060, is available from the Department of Law, 1031 West Fourth Avenue, Suite 200, Anchorage, Alaska 99501 or at the following Internet address: http://www.law. state.ak.us/department/civil/consumer/cp topics.htm#bus opps

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.