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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 3. Commerce, Community, and Economic Development. |
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Part 3.1. Banking, Securities, Small Loans and Corporations. |
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Chapter 3.04. Trust Companies. |
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Article 3.04.4. Ownership. |
Section 3.04.320. Application for acquisition of control.
Latest version.
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An application for acquisition of control required by AS 06.26.460 must contain (1) the identity, trust experience, and business experience of each person by whom or on whose behalf acquisition is to be made; (2) the terms and conditions of any proposed acquisition and the manner in which the acquisition is to be made; (3) the source and amount of the money or other consideration used or to be used in making the acquisition, and, if any part of that money or other consideration (A) has been or is to be borrowed or otherwise obtained for the purpose of making the acquisition, a description of the transaction and the names of the parties; or (B) will be the issuance of the trust company capital stock, a list of the names of shareholders and number of shares held by shareholders; (4) resumes of all (A) new directors; (B) new executive and trust officers; and (C) shareholders or subscribers who own or hold with the power to vote, or will own or hold with the power to vote, 10 percent or more of the voting securities or other capital stock; and (5) any additional information that the department requires for the protection of trust depositors, trust settlors, trust beneficiaries, shareholders, and the public interest.
Authorities
06.26.460;06.26.900