9 Alaska Admin. Code § 16.900

Current through November 28, 2024

Section 9 AAC 16.900 - Definitions

In AS 45.66 and this chapter, unless the context requires otherwise,

(1) "affiliated company" means a business entity that

(A) will engage in business transactions with buyers relating to the sale of a business opportunity; or

(B) accepts responsibility for the acts or statements made by the seller relating to sales or offers to sell business opportunities;

(2) "department" means the Department of Law;

(3) "down payment" has the meaning given in AS 45.66.100;

(4) "initial payment" has the meaning given in AS 45.66.100;

(5) "owner" means a person who owns or controls 10 percent or more of the net income of a business entity;

(6) "parent company" means a business entity that

(A) is an owner of the seller; and

(B) has authority to control the employment or appointment of officers, directors, or managers of the seller.

9 AAC 16.900

Eff. 3/23/2005, Register 173

Authority:AS 45.66.080

AS 45.66.240