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- Alaska Statutes.
- Title 10. Corporations and Associations
- Chapter 13. Alaska Bidco Act
- Section 890. Associates.
previous: Section 880
. Application of Law Under Which Licensee Incorporated.
next: Section 900
. Other Licenses.
AS 10.13.890. Associates.
- (a) In AS 10.13.300
- 10.13.320 and 10.13.630 - 10.13.660, a person who is an associate within six months
before or after a licensee provides financing assistance shall be considered to be an associate as of the date the
licensee provides the assistance.
- (b) If a licensee, in order to protect the licensee's interests, designates a person to serve as a director of, officer
of, or in a management capacity of a business to which the licensee provides financial assistance, the person may not,
on that account, be considered to be an associate under AS 10.13.300
- 10.13.310 or 10.13.630 - 10.13.660. This subsection does not apply if the person
has, directly or indirectly, another financial interest in the business or if the person, at any time before the
licensee provides the financing assistance, served as a director of, officer of, or in another capacity in the
management of the business for a period of 30 days or more.
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