The following securities are exempt from the requirements of Alaska Stat. § 45.56.100, 45.56.170 – 45.56.230, and 45.56.550:

(1) a security, including a revenue obligation or a separate security as defined in 17 C.F.R. § 230.131 adopted under 15 U.S.C. § 77a– 77aa (Securities Act of 1933), issued, insured, or guaranteed by the United States; by a state; by a political subdivision of a state; by a public authority, agency, or instrumentality of one or more states; by a political subdivision of one or more states; or by a person controlled or supervised by and acting as an instrumentality of the United States under authority granted by the United States Congress; or a certificate of deposit for any of the foregoing;
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Terms Used In Alaska Statutes 45.56.110

  • administrator: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 45.56.900
  • bank: means
    (A) a banking institution organized under the laws of the United States. See Alaska Statutes 45.56.900
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • depository institution: means
    (A) a bank. See Alaska Statutes 45.56.900
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under 15 U. See Alaska Statutes 45.56.900
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • filing: means the receipt under this chapter of a record by the administrator or a designee of the administrator. See Alaska Statutes 45.56.900
  • guaranteed: means guaranteed as to payment of all principal and all interest. See Alaska Statutes 45.56.900
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • insurance company: means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and that is subject to supervision by the insurance commissioner or a similar official or agency of a state. See Alaska Statutes 45.56.900
  • insured: means insured as to payment of all principal and all interest. See Alaska Statutes 45.56.900
  • international banking institution: means an international financial institution of which the United States is a member and whose securities are exempt from registration under 15 U. See Alaska Statutes 45.56.900
  • issuer: means a person that issues or proposes to issue a security, subject to the following:
    (A) the issuer of a voting trust certificate, collateral trust certificate, certificate of deposit for a security, or share in an investment company without a board of directors or individuals performing similar functions is the person performing the acts and assuming the duties of depositor or manager under the trust or other agreement or instrument under which the security is issued. See Alaska Statutes 45.56.900
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: means an individual, a corporation, a partnership, a limited liability company, a limited partnership, a limited liability partnership, an association, a joint-stock company, a trust in which the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Alaska Statutes 45.56.900
  • sale: includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See Alaska Statutes 45.56.900
  • Securities and Exchange Commission: means the United States Securities and Exchange Commission. See Alaska Statutes 45.56.900
  • security: means a note. See Alaska Statutes 45.56.900
  • Service of process: The service of writs or summonses to the appropriate party.
  • state: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alaska Statutes 45.56.900
  • Statute: A law passed by a legislature.
  • subscription: includes the mark of a person who cannot write, with the name of that person written near the mark by a witness who writes the witness's own name near the name of the person who cannot write. See Alaska Statutes 01.10.060
(2) a security issued, insured, or guaranteed by a foreign government with which the United States maintains diplomatic relations, or by any of its political subdivisions, if the security is recognized as a valid obligation by the issuer, insurer, or guarantor;
(3) a security issued by and representing, or that will represent an interest in or a direct obligation of or be guaranteed by,

(A) an international banking institution;
(B) a banking institution organized under the laws of the United States; a member bank of the Federal Reserve System; or a depository institution a substantial portion of the business of which consists or will consist of receiving deposits or share accounts that are insured to the maximum amount authorized by statute by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund, or a successor authorized by federal law or exercising fiduciary powers that are similar to those permitted for national banks under the authority of the United States Comptroller of the Currency under 12 U.S.C. § 92a; or
(C) any other depository institution, unless, by a regulation or order, the administrator proceeds under Alaska Stat. § 45.56.160;
(4) a security issued by and representing an interest in, or a debt of, or insured or guaranteed by, an insurance company authorized to do business in this state;
(5) a security issued or guaranteed by a railroad, other common carrier, public utility, or public utility holding company that is

(A) regulated with respect to its rates and charges by the United States or a state;
(B) regulated with respect to the issuance or guarantee of the security by the United States, a state, Canada, or a Canadian province or territory; or
(C) a public utility holding company registered under 42 U.S.C. § 16451– 16481 (Energy Policy Act of 2005) or a subsidiary of the registered holding company within the meaning of that Act;
(6) a federal covered security specified in 15 U.S.C. § 77r(b)(1) (Securities Act of 1933) or adopted by rule under that provision or a security listed or approved for listing on another securities market specified by regulation under this chapter; a put or call option contract; a warrant; a subscription right on or with respect to the security; an option or similar derivative security on a security or an index of securities or foreign currencies issued by a clearing agency registered under 15 U.S.C. § 78a– 78pp (Securities Exchange Act of 1934) and listed or designated for trading on a national securities exchange, a facility of a national securities exchange, or a facility of a national securities association registered under 15 U.S.C. § 78a– 78pp (Securities Exchange Act of 1934) or an offer or sale of the underlying security in connection with the offer, sale, or exercise of an option or other security that was exempt when the option or other security was written or issued; or an option or a derivative security designated by the Securities and Exchange Commission under 15 U.S.C. § 78i(b) (Securities Exchange Act of 1934);
(7) a security issued by a person organized and operated exclusively for religious, educational, benevolent, fraternal, charitable, social, athletic, or reformatory purposes, or as a chamber of commerce, and not for pecuniary profit, no part of the net earnings of which inures to the benefit of a private stockholder or other person, or a security of a company that is excluded from the definition of an investment company under 15 U.S.C. §§ 80a-3(c)(10)(B) (Investment Company Act of 1940), except that, with respect to the offer or sale of a note, bond, debenture, or other evidence of indebtedness issued by the person, a regulation may be adopted under this chapter limiting the availability of this exemption by classifying securities, persons, and transactions, imposing different requirements for different classes, specifying, with respect to (B) of this paragraph, the scope of the exemption and the grounds for denial or suspension, and requiring an issuer to

(A) file a notice specifying the material terms of the proposed offer or sale and copies of any proposed sales and advertising literature to be used and provide that the exemption becomes effective if the administrator does not disallow the exemption within the period established by the regulation;
(B) file a request for exemption authorization for which a regulation adopted under this chapter may specify the

(i) scope of the exemption;
(ii) requirement of an offering statement;
(iii) filing of sales and advertising literature;
(iv) filing of consent to service of process complying with Alaska Stat. § 45.56.650; and
(v) grounds for denial or suspension of the exemption; or
(C) register under Alaska Stat. § 45.56.180;
(8) a member’s or owner’s interest in, or a retention certificate or like security given in lieu of a cash patronage dividend issued by, a cooperative organized and operated as a nonprofit membership cooperative under the cooperative laws of a state, but not a member’s or owner’s interest, retention certificate, or like security sold to persons other than bona fide members of the cooperative;
(9) an equipment trust certificate with respect to equipment leased or conditionally sold to a person if any security issued by the person would be exempt under this section or would be a federal covered security under 15 U.S.C. § 77r(b)(1) (Securities Act of 1933); and
(10) shares of membership stock in the Alaska Commercial Fishing and Agriculture Bank issued under Alaska Stat. § 44.81.010 and other securities issued by that bank to members or in connection with loans to members.
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