{"data":{"id":"us-ak/as-10.13.050","jurisdiction":"us-ak","citation":"AS 10.13.050","heading":"Criteria for directors, officers, and controlling persons.","body":"(a) A license may only be issued if the department determines that each director, officer, and controlling person of the applicant is\n(1) of good character and sound financial standing;\n(2) competent to perform the director's or officer's functions for the applicant; and\n(3) when considered collectively with the other directors, officers, and controlling persons, adequate to manage the business of the applicant as a BIDCO.\n(b) The department may determine that a director, officer, or controlling person of an applicant is not of good character. Bases the department may use to make that determination include proof that the director, officer, or controlling person, or a director or officer of a controlling person has\n(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\n(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.","path":["Title 10. Corporations and Associations.","Chapter 13. Alaska BIDCO Act."],"source_url":"https://www.akleg.gov/basis/statutes.asp#10.13.050","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:39Z","sha256":"da57f1e5ac46e648e4bac02bdc87595de41826c21ecb771cc8519c1ab1032942","source_id":"us-ak","stale":false,"prev":"us-ak/as-10.13.040","next":"us-ak/as-10.13.060"},"notice":"GroundRules: Original legal text. Not legal advice."}