Sec. 43.82.110. Qualified sponsor or qualified sponsor group.

194 words·~1 min read·/ak/title-43/chapter-82/43-82-110

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

The commissioner may determine that a person or group is a qualified sponsor or qualified sponsor group if the person or a member of the group

(1)intends to own an equity interest in a qualified project, intends to commit gas that it owns to a qualified project, or holds the permits that the department determines are essential to construct and operate a qualified project; and

(2)meets one or more of the following criteria:

(A)owns a working interest in at least 10 percent of the stranded gas proposed to be developed by a qualified project;

(B)has the right to purchase at least 10 percent of the stranded gas proposed to be developed by a qualified project;

(C)has the right to acquire, control, or market at least 10 percent of the stranded gas proposed to be developed by a qualified project;

(D)has a net worth equal to at least 10 percent of the estimated cost of constructing a qualified project;

(E)has an unused line of credit equal to at least 15 percent of the estimated cost of constructing a qualified project.