Sec. 10.13.020. Qualifications for BIDCO license.
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Sec. 10.13.020. Qualifications for BIDCO license.
The department shall issue a license to operate as a BIDCO to a corporation that is incorporated under AS 10.06 , or that has been issued a certificate of authority under AS 10.06 to transact business in the state, and that submits an application to the department, if the department determines that
(1)the applicant has the net worth required under AS 10.13.040 ;
(2)the directors, officers, and controlling persons of the applicant satisfy the criteria under AS 10.13.050 ;
(3)it is reasonable to believe that the corporation will comply with this chapter;
(4)the applicant has a reasonable promise of being a viable, ongoing BIDCO, satisfying the basic objectives of the corporation's business plans, and achieving long-term financial success.