Alaska Statutes 10.13.640 – Financing assistance to discharge obligation to associate of licensee
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Terms Used In Alaska Statutes 10.13.640
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A licensee may not directly or indirectly provide financing assistance to discharge, or to free money for use in discharging, part or all of an obligation to an associate of the licensee. This section does not apply to a transaction of an associate of a licensee in the normal course of the associate’s business involving a line of credit or financing assistance with a term of not more than five years.