Alaska § 10.13.290 - Business practice standards and reserves.
Full text of Alaska Alaska Statutes § 10.13.290 — Business practice standards and reserves., with citation guidance and answers to common questions.
§ 10.13.290. Business practice standards and reserves.
(a) A licensee shall transact its business in a safe and sound manner and shall maintain itself in a safe and sound condition.
(b) In determining whether a licensee is transacting business in a safe and sound manner, the department may not consider the risk of providing financing assistance to a business, unless the department determines that the risk is great enough to demonstrate gross mismanagement when compared with the return that can be realistically expected.
(c) Notwithstanding the other provisions of this section, the department may (1) if the amount of the financing assistance is unduly large in relation to the total assets or the total shareholder equity of the licensee, determine that a licensee's financing assistance to a single business or group of affiliated businesses violates (a) of this section or constitutes an unsafe or unsound act;
(2) require that a licensee maintain a reserve in the amount of anticipated losses;
(3) require that a licensee have in effect a written financing assistance policy approved by the licensee's board of directors, including credit evaluation and other matters; the department may not require that a licensee adopt a financing assistance policy that contains standards that prevent the licensee from exercising needed flexibility in evaluating and structuring financing assistance to businesses on an individual basis.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 10.13.290
What does Alaska Statutes § 10.13.290 cover?
Section 10.13.290 ("Business practice standards and reserves.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 10.13.290?
A common citation format is "Alaska Statutes § 10.13.290" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 10.13.290 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.