(a) A qualified sponsor or member of a qualified sponsor group may assign an interest in or add or withdraw a party to an application under Alaska Stat. § 43.82.120 only if the commissioner has

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 43.82.260

  • Contract: A legal written agreement that becomes binding when signed.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
(1) made a finding that the assignment, addition, or withdrawal is consistent with the requirements of Alaska Stat. § 43.82.110; and
(2) given prior written approval for the assignment, addition, or withdrawal.
(b) A contract developed under this chapter may provide for the assignment to or withdrawal of a qualified sponsor or member of a qualified sponsor group.
(c) Upon being added to an application under this section, a party becomes a qualified sponsor or a member of a qualified sponsor group, as appropriate, for the relevant project.
(d) The commissioner may not unreasonably withhold approval under (a) of this section, but may condition the approval in any way reasonably necessary to protect the fiscal interests of the state and to further the purposes of this chapter.
(e) For purposes of this section, an assignment includes a transfer of stock or a partnership interest in a manner that changes control of a qualified sponsor or member of a qualified sponsor group.
  Previous section
Next section  
 Article 3 Contents