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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 660. Compensation of Associate.
previous: Section 650
. Contemporaneous Financing Assistance.
next: Section 670
AS 10.13.660. Compensation of Associate.
- (a) An associate of a licensee may not directly or indirectly receive from a person to whom the licensee provides
- (1) compensation in connection with the providing of the financing assistance; or
- (2) other things of value for procuring, influencing, or attempting to procure or influence the licensee's action with
respect to providing the financing assistance.
- (b) This section does not apply to the receipt of fees by an associate of a licensee for bona fide services performed by
the associate if
- (1) the associate, with the consent and knowledge of the person to whom the financing assistance is provided, is
designated by the licensee to perform the services;
- (2) the services are appropriate and necessary under the circumstances;
- (3) the fees for the services are approved as reasonable by the licensee; and
- (4) the fees for the services are collected by the licensee, and the licensee pays the associate.
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