- Alaska Statutes.
- Title 43. Revenue and Taxation
- Chapter 82. Alaska Stranded Gas Development Act
- Section 260. Change of Parties to An Application or a Contract; Assignment of Interests.
previous: Section 250
. Term of Contract; Effective Date.
next: Section 270
. Project Plans and Work Commitments.
AS 43.82.260. Change of Parties to An Application or a Contract; Assignment of Interests.
- (a) A qualified sponsor or member of a qualified sponsor group may assign an interest in or add or withdraw a party to an
application under AS 43.82.120
only if the commissioner has
- (1) made a finding that the assignment, addition, or withdrawal is consistent with the requirements of AS 43.82.110
- (2) given prior written approval for the assignment, addition, or withdrawal.
- (b) A contract developed under this chapter may provide for the assignment to or withdrawal of a qualified sponsor or
member of a qualified sponsor group.
- (c) Upon being added to an application under this section, a party becomes a qualified sponsor or a member of a qualified
sponsor group, as appropriate, for the relevant project.
- (d) The commissioner may not unreasonably withhold approval under (a) of this section, but may condition the approval in
any way reasonably necessary to protect the fiscal interests of the state and to further the purposes of this chapter.
- (e) For purposes of this section, an assignment includes a transfer of stock or a partnership interest in a manner that
changes control of a qualified sponsor or member of a qualified sponsor group.
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