(a) A person other than a licensee may not have a direct or indirect financial interest in the business for which a license is issued.
Terms Used In Alaska Statutes 04.11.450 v2
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.
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
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.
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
(b) A person who is a representative or owner of a wholesale business licensed under Alaska Stat. § 04.09.100 or 04.09.110 may not be issued, solely or together with others, a manufacturer license issued under Alaska Stat. § 04.09.020 – 04.09.040, or a retail license issued under Alaska Stat. § 04.09.200 – 04.09.370.(c) A license may not be leased by a licensee to another person, partnership, limited liability organization, or corporation.(d) For the purposes of this section, a lessor under a graduated or percentage lease-rent agreement involving premises licensed under this title does not hold a financial interest in the business.(e) A holder of either a general wholesale license or a limited wholesale brewed beverage and wine license may not be employed by or act as the agent or employee of the holder of a manufacturer license under Alaska Stat. § 04.09.020 – 04.09.040 or a retail license under Alaska Stat. § 04.09.200 – 04.09.370.(f) In this section, “direct or indirect financial interest” means holding a legal or equitable interest in the operation of a business licensed under this title. However, credit extended by a distiller, a brewery, or a winery to a wholesaler, or credit extended by a wholesaler to persons licensed under this title, or a consulting fee received from a person licensed under this title, is not considered a financial interest in a business licensed under this title.(g) The holder of a manufacturer license that annually produces in total 300,000 barrels or more of brewed beverages or mead or cider containing less than 8.5 percent alcohol by volume, 50,000 nine-liter-equivalent cases or more of wine, sake, or mead or cider containing 8.5 percent or more alcohol by volume, or 50,000 nine-liter-equivalent cases or more of distilled spirits may not be issued, solely or together with others, a license under Alaska Stat. § 04.09.100 – 04.09.370.(h) For purposes of calculating the volume that the holder of a manufacturer license produces under this section, the volume of production must include all production by
(1) the holder of the manufacturer’s license; and(2) an officer, director, agent, employee, or affiliate of the holder; in this paragraph, “affiliate” means a person that directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, a corporation.
