Sec. 10.13.460. Department approval.
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Sec. 10.13.460. Department approval.
The department may not approve a merger, purchase, or sale under AS 10.13.430 — 10.13.450 unless the department determines that
(1)the merger, purchase, or sale will be safe and sound with respect to the acquiring licensee;
(2)upon consummation of the merger, purchase, or sale, it is reasonable to believe that the acquiring licensee will comply with this chapter;
(3)the merger, purchase, or sale will not have a major detrimental effect on competition in the providing of financial assistance or management assistance to businesses, or, if there will be a detrimental effect, the merger, purchase, or sale is necessary in the interests of the safety and soundness of a party to the merger, purchase, or sale, or is otherwise, on balance, in the public interest.
Article 5. Regulation, Fees, Records, Reports, and Examinations.