9 Alaska Admin. Code § 16.020

Current through November 28, 2024

Section 9 AAC 16.020 - Disclosure statement

(a) A seller must file with the department a completed disclosure statement on the department's form entitled Alaska Business Opportunity Disclosure Statement,as revised as of February 9, 2005 and adopted by reference.

(b) The disclosure statement must have a cover sheet that contains all of the following information, and no other information:

(1) a title, in not less than 12-point, uppercase, bold typeface, "DISCLOSURES REQUIRED BY ALASKA LAW";

(2) underneath the title, the following statement, in at least 12-point, uppercase, bold typeface:

"NOTICE TO BUYERS:

UNDER ALASKA LAW, A PERSON WHO SELLS A BUSINESS OPPORTUNITY MUST REGISTER WITH THE STATE OF ALASKA'S DEPARTMENT OF LAW. REGISTRATION DOES NOT MEAN THAT THE STATE RECOMMENDS OR APPROVES THE BUSINESS OPPORTUNITY.

THE SELLER OF THE BUSINESS OPPORTUNITY IS REQUIRED TO GIVE YOU A DISCLOSURE STATEMENT. THIS DISCLOSURE STATEMENT CONTAINS IMPORTANT INFORMATION ABOUT THE BUSINESS OPPORTUNITY AND THE PERSON SELLING IT. YOU SHOULD READ IT CAREFULLY.

THE SELLER MUST GIVE THIS DISCLOSURE STATEMENT TO YOU AT LEAST 10 CALENDAR DAYS BEFORE YOU SIGN A CONTRACT OR MAKE A PAYMENT. IF YOU HAVE ANY QUESTIONS OR CONCERNS ABOUT THIS INVESTMENT, YOU SHOULD TALK WITH AN ATTORNEY OR FINANCIAL ADVISOR BEFORE YOU SIGN A CONTRACT, OR CONTACT THE DEPARTMENT OF LAW FOR ADDITIONAL INFORMATION ABOUT THE BUSINESS OPPORTUNITY."

(3) the seller's name, the seller's principal business address, and the date the disclosure statement is given to the buyer or potential buyer; the information required in this paragraph must be provided conspicuously on the cover sheet.

9 AAC 16.020

Eff. 3/23/2005, Register 173

The Department of Law's Alaska Business Opportunity Disclosure Statement, adopted by reference in 9 AAC 16.020, is available from the Department of Law, 1031 West Fourth Avenue, Suite 200, Anchorage, Alaska 99501 or at the following Internet address: http://www.law.state.ak.us/pdf/consumer/busopp-disclosure-s tatement.pdf

Authority:AS 45.66.020

AS 45.66.080

AS 45.66.240