In AS 45.66 and this chapter, unless the context requires otherwise,

1. (1) "affiliated company" means a business entity that

   1. (A) will engage in business transactions with buyers relating to the sale of a business opportunity; or
   2. (B) accepts responsibility for the acts or statements made by the seller relating to sales or offers to sell business opportunities;
2. (2) "department" means the Department of Law;
3. (3) "down payment" has the meaning given in AS 45.66.100;
4. (4) "initial payment" has the meaning given in AS 45.66.100;
5. (5) "owner" means a person who owns or controls 10 percent or more of the net income of a business entity;

6. (6) "parent company" means a business entity that

   1. (A) is an owner of the seller; and
   2. (B) has authority to control the employment or appointment of officers, directors, or managers of the seller.

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

Authority: AS 45.66.080, AS 45.66.240