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Title 15 . Revenue
Chapter 150 . (Repealed)
Section 130. Contract formation and modifications

15 AAC 150.130. Contract formation and modifications

(a) The Corporation, in consultation with the Department of Law, will, in its discretion, establish standard contract clauses and forms for all Corporation contracts and agreements.

(b) A Corporation contract or agreement may not be transferred or otherwise assigned without the prior, written consent of the Corporation. If the Corporation determines that it is in its best interest, the Corporation will recognize a successor in interest in a novation agreement in which the transferor and the transferee agree that:

(1) the transferee assumes all of the transferor's rights and obligations under the contract; and

(2) the transferor waives all rights it has under the contract as against the Corporation.

(c) If a contractor requests to change the name in which it holds a contract with the Corporation, the Corporation will, in its discretion and if it is in the best interest of the Corporation, enter into an agreement with the requesting contractor to effect the change of name. The agreement changing the name must indicate specifically that no other terms of the contract are changed.

History: Eff. 5/7/93, Register 130

Authority: AS 18.56.088

AS 36.30.015 (f)

Editor's note: Before Register 130, July, 1994, the substance of 15 AAC 150.130 was contained in former 15 AAC 118.840. The history note for 15 AAC 150.130 does not reflect the history of the section under its former number.

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Last modified 7/05/2006