Alaska § 06.26.450 - Acquisition of control.
Full text of Alaska Alaska Statutes § 06.26.450 — Acquisition of control., with citation guidance and answers to common questions.
§ 06.26.450. Acquisition of control.
(a) Except as expressly otherwise permitted under this chapter, a person may not, without the prior written approval of the department, directly or indirectly acquire control of a trust company through a change in a legal or beneficial interest in voting securities of a trust company or a corporation or other person who owns voting securities of a trust company.
(b) This section does not apply to (1) the acquisition of securities in connection with the exercise of a security or other interest in full or partial satisfaction of a debt previously contracted for in good faith if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired;
(2) the acquisition of voting securities in any class or series by a person in control who has previously complied with and received approval to acquire control under AS 06.26.450 — 06.26.480 or who was identified as a person in control in an earlier application filed with and approved by the department;
(3) an acquisition or transfer by operation of law, a will, or intestate succession if the acquiring person files written notice of acquisition with the department before the person votes the securities acquired; or
(4) a transaction exempted by the department by regulation or order because the transaction is not within the purposes of AS 06.26.450 — 06.26.480.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 06.26.450
What does Alaska Statutes § 06.26.450 cover?
Section 06.26.450 ("Acquisition of control.") 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 § 06.26.450?
A common citation format is "Alaska Statutes § 06.26.450" (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 § 06.26.450 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.