Upon receipt of an application for registration in proper form, the department shall immediately initiate an examination to determine that

(1) the subdivider can convey or cause to be conveyed the interest in subdivided land offered for disposition if the purchaser complies with the terms of the offer, and when appropriate, that release clauses, conveyances in trust or other safeguards have been provided;
contract signature

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Terms Used In Alaska Statutes 34.55.014

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • department: means Department of Commerce, Community, and Economic Development. See Alaska Statutes 34.55.044
  • disposition: includes sale, lease, assignment, award by lottery, or any other transaction concerning a subdivision, if undertaken for gain or profit. See Alaska Statutes 34.55.044
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • offer: includes every inducement, solicitation, or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. See Alaska Statutes 34.55.044
  • purchaser: means a person who acquires or attempts to acquire or succeeds to an interest in land. See Alaska Statutes 34.55.044
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • subdivider: means an owner of subdivided land who offers it for disposition or the principal agent of an inactive owner. See Alaska Statutes 34.55.044
(2) there is reasonable assurance that all proposed improvements will be completed as represented;
(3) the advertising material and the general promotional plan are not false or misleading and comply with the standards prescribed by the department in its regulations and afford full and fair disclosure;
(4) the subdivider has not, or if a corporation, its officers, directors, and principals have not, been convicted of a crime involving land dispositions or any aspect of the land sales business in this state, the United States, or any other state or foreign country within the past 10 years and has not been subject to an injunction or administrative order within the past 10 years restraining a false or misleading promotional plan involving land dispositions;
(5) the public offering statement requirements of this chapter have been satisfied.
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