{"data":{"id":"us-ak/as-06.26.450","jurisdiction":"us-ak","citation":"AS 06.26.450","heading":"Acquisition of control.","body":"(a) Except as expressly otherwise permitted under this chapter, a person may not, without the prior written approval of the department, directly or indirectly acquire control of a trust company through a change in a legal or beneficial interest in voting securities of a trust company or a corporation or other person who owns voting securities of a trust company.\n(b) This section does not apply to\n(1) the acquisition of securities in connection with the exercise of a security or other interest in full or partial satisfaction of a debt previously contracted for in good faith if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired;\n(2) the acquisition of voting securities in any class or series by a person in control who has previously complied with and received approval to acquire control under AS 06.26.450 — 06.26.480 or who was identified as a person in control in an earlier application filed with and approved by the department;\n(3) an acquisition or transfer by operation of law, a will, or intestate succession if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired; or\n(4) a transaction exempted by the department by regulation or order because the transaction is not within the purposes of AS 06.26.450 — 06.26.480.","path":["Title 6. Banks and Financial Institutions.","Chapter 26. Revised Alaska Trust Company Act.","Article 7. Ownership."],"source_url":"https://www.akleg.gov/basis/statutes.asp#06.26.450","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:15Z","sha256":"339826b55b44e798eb816ea651a9475a13a4cc9e5584efc333c2c9a4e5387b78","source_id":"us-ak","stale":false,"prev":"us-ak/as-06.26.410","next":"us-ak/as-06.26.460"},"notice":"GroundRules: Original legal text. Not legal advice."}