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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 280. Control of Other Businesses.
previous: Section 270
. Control of Business Providing Financing Assistance and Management Assistance.
next: Section 285
. "Hold Control" Defined.
AS 10.13.280. 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
- (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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