{"data":{"id":"us-ak/as-10.13.410","jurisdiction":"us-ak","citation":"AS 10.13.410","heading":"Application to acquire control.","body":"(a) The department shall approve an application to acquire control of a licensee under AS 10.13.400 if the department determines that\n(1) the applicant and the directors and officers of the applicant are of good character and sound financial standing;\n(2) it is reasonable to believe that the applicant will comply with this chapter; and\n(3) the plans, if any, of the applicant to make a major change in the business, corporate structure, or management of the licensee are not detrimental to the safety and soundness of the licensee.\n(b) If, after notice and a hearing, the department determines that the criteria for approval in (a) of this section have not been satisfied, the department shall deny the application.","path":["Title 10. Corporations and Associations.","Chapter 13. Alaska BIDCO Act.","Article 4. Acquisitions of Control, Mergers, Purchases, and Sales."],"source_url":"https://www.akleg.gov/basis/statutes.asp#10.13.410","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:39Z","sha256":"c796fd9af88c3fc808b571b5211ce226ac55d17095c53d908a8945ef6450ae40","source_id":"us-ak","stale":false,"prev":"us-ak/as-10.13.400","next":"us-ak/as-10.13.420"},"notice":"GroundRules: Original legal text. Not legal advice."}