Title 10 — Corporations and Associations
13 chapters · 986 sections in this title.
AS 10.13.580 Records kept by others.
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(a) If a person other than a licensee makes or keeps all or part of the books, accounts, or other records of the licensee, this chapter applies to the person with respect to the books, accounts, and other records to the same extent as if the person were the licensee. (b) If a per…
AS 10.13.590 Information on economic development effect.
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Each year the department shall publish and provide to the legislature information on the effect of this chapter on promoting economic development in the state. The information must include aggregate statistics on (1) the number and dollar amount of the financing assistance made b…
AS 10.13.600 Examination of licensees and subsidiaries.
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Article 6. Prohibited Activities. (a) The department may at any time examine a licensee or a subsidiary of a licensee. Licensure under this chapter constitutes implied consent to examination by the department. (b) [Repealed, § 4 ch 26 SLA 2018.] (c) At the department's request th…
AS 10.13.610 Misrepresentation.
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(a) Except as otherwise provided in AS 10.13.120, a person transacting business in the state who is not a licensee may not knowingly use a name or title that indicates that the person is a BIDCO or otherwise represent that the person is a BIDCO or a licensee. (b) A licensee may n…
AS 10.13.620 Inspection or copying refusal.
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A person having custody of all or part of the books, accounts, or other records of a licensee may not knowingly refuse to allow the department, upon request, to inspect or make copies of the records.
AS 10.13.630 Financing assistance to associates of licensee.
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A licensee may not directly or indirectly provide financing assistance to an associate of the licensee.
AS 10.13.640 Financing assistance to discharge obligation to associate of licensee.
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A licensee may not directly or indirectly provide financing assistance to discharge, or to free money for use in discharging, part or all of an obligation to an associate of the licensee. This section does not apply to a transaction of an associate of a licensee in the normal cou…
AS 10.13.650 Contemporaneous financing assistance.
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(a) If the terms on which a licensee provides financing assistance to a business are less favorable to the licensee than the terms on which an associate of the licensee provides financing assistance to the business, the licensee may not directly or indirectly provide the assistan…
AS 10.13.660 Compensation of associate.
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(a) An associate of a licensee may not directly or indirectly receive from a person to whom the licensee provides financing assistance (1) compensation in connection with the providing of the financing assistance; or (2) other things of value for procuring, influencing, or attemp…
AS 10.13.670 Exemptions.
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Article 7. Enforcement. (a) If the department finds that the exemption is in the public interest and that the regulation of the person or transaction is not necessary for the purposes of this chapter, the department may exempt a person or transaction from AS 10.13.630 — 10.13.660…
AS 10.13.700 Injunction and enforced compliance; appointment of receiver or conservator.
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If, in the opinion of the department, a person has violated this chapter, or if there is reasonable cause to believe that a person is about to violate this chapter, the department may bring an action in superior court to enjoin the violation or to enforce compliance with this cha…
AS 10.13.710 Cease and desist orders for unlicensed persons.
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If the department finds that a person has violated or that there is reasonable cause to believe that the person is about to violate AS 10.13.120(b) or 10.13.610(a), the department may order the person to cease and desist from the violation unless and until the person is issued a …
AS 10.13.720 Cease and desist orders for violations by licensees or subject persons.
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After notice and a hearing, if the department determines that a licensee or a subject person of a licensee has violated or is violating, or that there is reasonable cause to believe that the licensee or subject person is about to violate this chapter, the department may order the…
AS 10.13.730 Cease and desist orders for unsafe and unsound acts.
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After notice and a hearing, if the department determines that a licensee or subject person of a licensee has engaged in or that there is a reasonable cause to believe that the licensee or subject person is about to engage in an unsafe or unsound act with respect to the business o…
AS 10.13.740 Other cease and desist orders.
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If the department determines that a factor set out in AS 10.13.720 — 10.13.730 is true with respect to a licensee or subject person of a licensee and that the action or violation is likely to cause the insolvency or substantial dissipation of the assets or earnings of the license…
AS 10.13.750 Removal, prohibition, and suspension orders for certain acts.
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(a) The department may issue an order removing a subject person of a licensee from office with the licensee and prohibiting the subject person from further participating in any manner in the conduct of the business of the licensee if the department determines after notice and a h…
AS 10.13.760 Removal, prohibition, and suspension orders in cases of indictment, binding over, or conviction.
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(a) If the department determines that a subject person of a licensee has been indicted by a grand jury or has been bound over for trial by a court for a crime involving dishonesty or breach of trust, and that the continuation of the person as a subject person of the licensee may …
AS 10.13.770 Hearings on orders; rescission and modification.
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(a) Within 30 days after an order is issued under AS 10.13.710, 10.13.740, 10.13.750(c), or 10.13.760, the licensee or subject person of a licensee to whom the order is directed may file with the department an application for a hearing on the order. (b) If the department fails to…
AS 10.13.780 Disclosure to shareholders.
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If the department determines that the results of a department communication or order addressed to the licensee or to a subject person of the licensee should be disclosed to the licensee's shareholders, the department may require the licensee to make the disclosure in the form and…
AS 10.13.790 Meetings of directors and shareholders called by department.
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(a) If the department considers it expedient, the department may call a meeting of the board of directors or of the shareholders of a licensee. (b) The department shall send notification of the time, place, and purpose of the meeting not less than five days before the meeting to …
AS 10.13.800 Orders restricting additional financing assistance.
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(a) The department may issue an order directing a licensee to refrain from providing additional financing assistance to businesses if, in the opinion of the department, the order is necessary to protect the interests of the licensee or the public, and if, after notice and a heari…
AS 10.13.810 Taking possession of licensee.
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(a) If the department finds that a factor in AS 10.13.800 is true with respect to a licensee and that it is necessary for the protection of the interests of the licensee or of the public, the department may take immediate possession of the property and business of the licensee an…
AS 10.13.820 Receivership.
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(a) The department may apply to the superior court for the appointment of a receiver for a licensee, if the department determines that the licensee should be liquidated because (1) the licensee is insolvent; (2) the licensee has suspended payment of the licensee's obligations, ha…
AS 10.13.830 Civil penalty.
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Article 8. General Provisions. (a) If after notice and a hearing the department finds that a person has violated this chapter, the department may order the person to pay to the department a civil penalty in the amount the department specifies. The civil penalty may not exceed $1,…
AS 10.13.850 Construction of chapter.
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This chapter shall be liberally construed to accomplish its purposes.
AS 10.13.860 Application of Administrative Procedure Act to proceedings.
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A proceeding under AS 10.13.830 is subject to AS 44.62 (Administrative Procedure Act). Except as otherwise provided in this chapter, other proceedings and actions under this chapter are exempt from AS 44.62.
AS 10.13.870 Appeals.
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A final order of an administrative proceeding under AS 10.13.710 — 10.13.760, 10.13.800, 10.13.810, or 10.13.830 may be appealed to the superior court.
AS 10.13.880 Application of law under which licensee incorporated.
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Except as otherwise provided in this section, the provisions of the law under which a licensee is incorporated apply to the licensee. If a provision of the licensee's incorporating law conflicts with a provision of this chapter, this chapter controls.
AS 10.13.890 Associates.
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(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 ord…
AS 10.13.900 Other licenses.
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A corporation that is licensed under this chapter may apply for and be issued a license under another law of the state, federal government, or of another state in the United States unless the transaction of business by the corporation as a licensee under the other license would v…
AS 10.13.910 Exemption.
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A licensee is not subject to the provisions of AS 06.
AS 10.13.920 Department authority regarding conflicts of interest.
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The provisions of this chapter relating to conflicts of interest do not limit the authority of the department to determine that an act involves a conflict of interest and is therefore an unsafe or unsound act.
AS 10.13.930 Confidentiality.
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(a) The commissioner, deputies, and other employees of the department may not disclose information acquired by them in the discharge of their duties under this chapter except to the extent disclosure of the information is required by law, other than the public records provisions …
AS 10.13.990 Definitions.
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In this chapter, (1) “affiliate” means, if used with respect to a nonnatural person, a person who controls the nonnatural person, who is controlled by the nonnatural person, or who is controlled by a person who also controls the nonnatural person; (2) “associate” means, if used w…
AS 10.13.995 Short title.
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This chapter may be cited as the Alaska BIDCO Act.