Alaska Statutes Title 10. Corporations and Associations § 10.13.050. Criteria for directors, officers, and controlling persons

(1) of good character and sound financial standing;

(2) competent to perform the director's or officer's functions for the applicant; and

(3) when considered collectively with the other directors, officers, and controlling persons, adequate to manage the business of the applicant as a BIDCO.

(1) had an administrative sanction imposed under 31 U.S.C. 3801--3812 (Program Fraud Civil Remedies Act of 1986) for an offense under 15 U.S.C. 645; or

(2) been convicted of a crime involving fraud or dishonesty, including a conviction for an offense under 15 U.S.C. 645; in this paragraph, “conviction” includes a conviction based on a guilty plea or plea of nolo contendere.