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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) In AS 10.13.300--10.13.310, licensee transactions that involve a potential conflict of interest include
(1) providing financing assistance to a principal shareholder of the licensee, to a person controlled by a principal shareholder of the licensee, or to a director, officer, partner, relative, controlling person, or affiliate of a principal shareholder of the licensee;
(2) providing financing assistance to a business to which one or more of the following provides or plans to provide contemporaneous financing assistance:
(A) a principal shareholder of the licensee;
(B) a director, officer, partner, relative, controlling person, or affiliate of a principal shareholder of a licensee;
(C) an affiliate of a principal shareholder of a licensee; or
(D) a person controlled by a principal shareholder of the licensee;
(3) providing financing assistance to a business that has or is expected to have a substantial business relationship with another business that has a director, officer, or controlling person who is also
(A) a director, officer, or controlling person of the licensee; or
(B) the spouse of a director, officer, or controlling person of the licensee;
(4) providing financing assistance to a business if the business, or a director, officer, or controlling person of the business contemporaneously has lent or will lend money to an associate of the licensee;
(5) providing financing assistance for the purchase of property of an associate or principal shareholder of the licensee;
(6) selling or otherwise transferring an asset of the licensee to an associate or principal shareholder of the licensee.
(b) In this section, “relative” means a parent, child, sibling, spouse, grandparent, grandchild, nephew, niece, aunt, or uncle, or a relative of the same degree through marriage.
Cite this article: FindLaw.com - Alaska Statutes Title 10. Corporations and Associations § 10.13.320. Examples of potential conflicts of interest - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-10-corporations-and-associations/ak-st-sect-10-13-320/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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