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Title 15 . Revenue
Chapter 145 . (Repealed)
Section 90. Definitions

15 AAC 145.090. Definitions

(a) In this chapter

(1) "at risk" means the lender is without a third-party obligation or guarantee of repayment in the event of default, unless the department is also given the same third-party obligation or guarantee of repayment;

(2) "department" means the Department of Revenue;

(3) "independent" means not

(A) a business affiliate as defined in 28 U.S.C. 1504(a) (Internal Revenue Code);

(B) on retainer or in the employ of the seller; or

(C) a supplier or a customer of the seller.

(b) In this chapter and in AS 45.94, "forest products business" means a forest products business as defined in AS 45.94.060 (3) formed for the purpose of harvesting or processing timber or other woody plant material, whose property, plant, and equipment are located within the state.

History: Eff. 2/17/85, Register 93

Authority: AS 45.94.030


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Last modified 7/05/2006