Alaska Stat. § 06.26.450
This is the official text of Alaska Stat. § 06.26.450, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Acquisition of control.
Official statutory text
(a) Except as expressly otherwise permitted under this chapter, a person may not, without the prior written approval of the department, directly or indirectly acquire control of a trust company through a change in a legal or beneficial interest in voting securities of a trust company or a corporation or other person who owns voting securities of a trust company.
(b) This section does not apply to (1) the acquisition of securities in connection with the exercise of a security or other interest in full or partial satisfaction of a debt previously contracted for in good faith if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired;
(2) the acquisition of voting securities in any class or series by a person in control who has previously complied with and received approval to acquire control under AS 06.26.450 06.26.480 or who was identified as a person in control in an earlier application filed with and approved by the department;
(3) an acquisition or transfer by operation of law, a will, or intestate succession if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired; or
(4) a transaction exempted by the department by regulation or order because the transaction is not within the purposes of AS 06.26.450 06.26.480.
(b) This section does not apply to (1) the acquisition of securities in connection with the exercise of a security or other interest in full or partial satisfaction of a debt previously contracted for in good faith if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired;
(2) the acquisition of voting securities in any class or series by a person in control who has previously complied with and received approval to acquire control under AS 06.26.450 06.26.480 or who was identified as a person in control in an earlier application filed with and approved by the department;
(3) an acquisition or transfer by operation of law, a will, or intestate succession if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired; or
(4) a transaction exempted by the department by regulation or order because the transaction is not within the purposes of AS 06.26.450 06.26.480.
Status: in_force · Read it on the official government site
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