The department shall issue a license to operate as a BIDCO to a corporation that is incorporated under Alaska Stat. Chapter 10.06, or that has been issued a certificate of authority under Alaska Stat. Chapter 10.06 to transact business in the state, and that submits an application to the department, if the department determines that

(1) the applicant has the net worth required under Alaska Stat. § 10.13.040;
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Terms Used In Alaska Statutes 10.13.020

  • 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.
  • 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
(2) the directors, officers, and controlling persons of the applicant satisfy the criteria under Alaska Stat. § 10.13.050;
(3) it is reasonable to believe that the corporation will comply with this chapter;
(4) the applicant has a reasonable promise of being a viable, ongoing BIDCO, satisfying the basic objectives of the corporation’s business plans, and achieving long-term financial success.
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