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Title 3 . Commerce, Community, and Economic Development
Chapter 8 . Land Sales
Section 650. Escrow, lock-in, and impound provisions for small corporate offerings

3 AAC 08.650. Escrow, lock-in, and impound provisions for small corporate offerings

(a) Promotional shares in an offering under 3 AAC 08.600 - 3 AAC 08.640 are subject to the escrow and lock-in requirements of 3 AAC 08.180 - 3 AAC 08.186.

(b) If the proposed business of the issuer requires a minimum amount of proceeds to commence or continue the business in the manner proposed, impoundment of the sale proceeds are subject to the requirements of 3 AAC 08.190.

History: Eff. 9/18/91, Register 119; am 4/19/2000, Register 154

Authority: AS 45.55.110

AS 45.55.950

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Last modified 7/05/2006