Sec. 10.13.400. Acquiring control of a licensee.

A person may not acquire control of a licensee without the prior approval of the department.

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 […]

Sec. 10.13.420. Determinations.

(a) When the department is reviewing an application under AS 10.13.410, the department may determine that an (1) applicant or a director or officer of an applicant is not of good character if the person has been convicted of a crime involving fraud or dishonesty, including a conviction based on a guilty plea or plea […]

Sec. 10.13.430. Merger.

A licensee may not merge with another corporation unless the merger is approved by the department, and, if the licensee is not the surviving corporation, the surviving corporation is a licensee.

Sec. 10.13.440. Purchase.

A licensee may not purchase all or substantially all of the business of another person unless the purchase is approved by the department.

Sec. 10.13.450. Sale.

A licensee may not sell all or substantially all of the licensee’s business or of the business of an office of the licensee to another person unless the purchaser is a licensee and the sale is approved by the department.

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 […]