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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 650. Contemporaneous Financing Assistance.
previous: Section 640
. Financing Assistance to Discharge Obligation to Associate of Licensee.
next: Section 660
. Compensation of Associate.
AS 10.13.650. Contemporaneous Financing Assistance.
- (a) If the terms on which a licensee provides financing assistance to a business are less favorable to the licensee than
the terms on which an associate of the licensee provides financing assistance to the business, the licensee may not
directly or indirectly provide the assistance to the business within one year before or after the associate provides
- (b) If the financing assistance provided by the licensee's associate is of a different kind from the financing assistance
provided by the licensee, the burden is on the licensee to prove that the terms on which the licensee provided the
financing assistance were at least as favorable to the licensee as the terms on which the associate provided the
- (c) This section does not apply
- (1) if the associate is a controlling person of the licensee and is also the only shareholder of the licensee;
- (2) if the associate is a subsidiary of the licensee;
- (3) to a transaction of an associate of a licensee in the normal course of the associate's business involving either a
line of credit or financing assistance with a term of not more than five years.
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