1. (a) Any statement required under AS 45.66.050 for a material change in information must be

   1. (1) submitted using the department's form entitled Alaska Business Opportunity Notice of Material Change in Information, as revised as of February 9, 2005 and adopted by reference; and
   2. (2) made under penalty of unsworn falsification in violation of AS 11.56.210.

2. (b) To be timely filed, the statement required under AS 45.66.050 must be

   1. (1) hand delivered to the department's Anchorage office within 10 days after the material change; or
   2. (2) sent by certified mail, return receipt requested, to the department's Anchorage office within 10 days after the material change.

3. (c) The department will consider a change in information provided under AS 45.66.020 or 45.66.030 to be a material change if a substantial likelihood exists that a reasonable prospective buyer would consider the change significant in making a decision to purchase the business opportunity. Material changes include

   1. (1) a change in the surety or in the status or expiration date of the bond required under AS 45.66.060;
   2. (2) an increase or decrease in the initial payment or additional payments charged by the seller;
   3. (3) a change in the seller's management or in the owner of the seller;
   4. (4) a change in the seller's or buyer's obligations under the contract or related agreements;

   5. (5) the initiation of, or a significant change in the status of, a civil, criminal, or administrative action or proceeding in which the seller, the seller's agent, or the seller's representative is a party, and involving a charge or allegation set out in AS 45.66.020(b)(3); for purposes of this paragraph,

      1. (A) the initiation of a civil, criminal, or administrative action or proceeding includes the filing of a complaint or indictment; and
      2. (B) a significant change in the status of a civil, criminal, or administrative action or proceeding includes entry of a judgment or order relating to any business opportunity offered by the seller, the seller's agent, or the seller's representative.

(Eff. 3/23/2005, Register 173)