Sec. 10.13.320. Examples of potential conflicts of interest.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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.

Article 4. Acquisitions of Control, Mergers, Purchases, and Sales.