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2018 Alaska Statutes
Title 10. Corporations and Associations
Chapter 13. Alaska BIDCO Act
Article 6. Prohibited Activities.
Sec. 10.13.640. Financing assistance to discharge obligation to associate of licensee.
Universal Citation: AK Stat § 10.13.640 (2018)
A licensee may not directly or indirectly provide financing assistance to discharge, or to free money for use in discharging, part or all of an obligation to an associate of the licensee. This section does not apply to a transaction of an associate of a licensee in the normal course of the associate's business involving a line of credit or financing assistance with a term of not more than five years.
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