Sec. 10.13.410. Application to acquire control.
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Sec. 10.13.410. Application to acquire control.
(a)The department shall approve an application to acquire control of a licensee under AS 10.13.400 if the department determines that
(1)the applicant and the directors and officers of the applicant are of good character and sound financial standing;
(2)it is reasonable to believe that the applicant will comply with this chapter; and
(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.
(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.