Section 20.17.105. Ownership and governance.

Latest version.

	(a)  An institution must have a plan of organization that is suited to its purpose, and shall submit a descriptive organizational chart at the time of application for authorization to operate.  
	(b)  A corporation, or corporate subsidiary, must state in its application for authorization to operate, the name, address, and corporate title, if any, of every stockholder who has a beneficial interest of 10 percent or more as well as every stockholder who subsequently acquires a total beneficial interest of 10 percent or more.  
	(c)  The commission may require evidence of satisfactory reputation of business and professional integrity for owners and senior management of the institution.

Authorities

14.48.050;14.48.060

Notes

Authority
 AS 14.48.050  
AS 14.48.060  
History Eff. 3/15/85, Register 93; am 5/26/2011, Register 198

                    
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