Section 10.13.320. Examples of potential conflicts of interest.

   (a) In AS 10.13.300 - 10.13.310, licensee transactions that involve a potential conflict of interest include
        (1) providing financing assistance to a principal shareholder of the licensee, to a person controlled by a principal shareholder of the licensee, or to a director, officer, partner, relative, controlling person, or affiliate of a principal shareholder of the licensee;
        (2) providing financing assistance to a business to which one or more of the following provides or plans to provide contemporaneous financing assistance:
             (A) a principal shareholder of the licensee;
             (B) a director, officer, partner, relative, controlling person, or affiliate of a principal shareholder of a licensee;
             (C) an affiliate of a principal shareholder of a licensee; or
             (D) a person controlled by a principal shareholder of the licensee;
        (3) providing financing assistance to a business that has or is expected to have a substantial business relationship with another business that has a director, officer, or controlling person who is also
             (A) a director, officer, or controlling person of the licensee; or
             (B) the spouse of a director, officer, or controlling person of the licensee;
        (4) providing financing assistance to a business if the business, or a director, officer, or controlling person of the business contemporaneously has lent or will lend money to an associate of the licensee;
        (5) providing financing assistance for the purchase of property of an associate or principal shareholder of the licensee;
        (6) selling or otherwise transferring an asset of the licensee to an associate or principal shareholder of the licensee.
   (b) In this section, "relative" means a parent, child, sibling, spouse, grandparent, grandchild, nephew, niece, aunt, or uncle, or a relative of the same degree through marriage.

Notes

History

(Sec. 1 ch 133 SLA 1992)