Alaska. Statutory Language

Alaska Statute 3-25

ALASKA STATUTE

ALASKA RESTRAINT OF TRADE AND MONOPOLIES ACT

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. §§ 45.50.562 to 45.50.596

§ 45.50.562. Combinations in restraint of trade unlawful

Every contract, combination in the form of a trust or otherwise, or conspiracy, in

restraint of trade or commerce is unlawful.

§ 45.50.564. Monopolies and attempted monopolies unlawful

It is unlawful for a person to monopolize, or attempt to monopolize, or combine

or conspire with another person to monopolize any part of trade or commerce.

§ 45.50.566. Transactions and agreements not to use or deal in commodities

or services unlawful

It is unlawful for a person to lease or make a sale or contract for sale of goods,

wares, merchandise, machinery, supplies, or other commodities, or services, whether

patented or unpatented, for use, consumption, enjoyment, or resale, or fix a price

charged for it, or discount from, or rebate upon, that price, on the condition,

agreement, or understanding that the lessee or purchaser will not use or deal in the

goods, wares, merchandise, machinery, supplies, or other commodity or service of a

competitor or competitors of the lessor or seller, if the effect of the lease, sale or

contract for sale, or of the condition, agreement, or understanding may be

substantially to lessen competition or tend to create a monopoly in any line of

commerce.

§ 45.50.568. Mergers and acquisitions unlawful when competition lessened

(a) It is unlawful for a person to acquire and hold, directly or indirectly, the

whole or a part of the stock, or other share capital, or assets of any corporation after

August 5, 1975 if the effect of the acquisition and holding may be substantially to

lessen competition or to tend to create a monopoly in any line of commerce in the

state or in a section of the state. This subsection does not apply to persons purchasing

such stock solely for investment if it is not used by voting or otherwise to bring

about, or in attempting to bring about, the substantial lessening of competition.

Nothing in this subsection prevents a corporation from causing the formation of

subsidiary corporations for the actual carrying on of their immediate lawful business,

or the natural and legitimate branches or extensions of it, or from owning and

holding all or a part of the stock of the subsidiary corporation, when the effect of the

formation is not substantially to lessen competition.

Alaska Statute 3-26

(b) When the court finds that the effect of the holding of such stock, share

capital, or assets is substantially to lessen competition or tends to create a monopoly

and no other remedy will eliminate the lessening of competition or the tendency to

create a monopoly, the court shall order the divestiture or other disposition of the

stock, share capital, or assets and shall prescribe a reasonable time, manner, and

degree of the divestiture or other disposition of it.

(c) This section does not apply to mergers, acquisitions, or holding companies

permitted by AS 06.05.235 or to a merger carried out in accordance with AS

21.69.590 - 21.69.600, or to mergers, acquisitions, or holding companies permitted

and regulated by a regulatory agency of the United States having jurisdiction and

control over those mergers and acquisitions.

§ 45.50.570. Interlocking directorates and relationships

(a) It is unlawful for a person to be at the same time a director, officer,

partner, or trustee in any two or more firms, partnerships, trusts, associations, or

corporations or any combination of them engaged in commerce, if these firms,

partnerships, trusts, associations, or corporations or a combination of them, are by

virtue of their business and location or operation, competitors and if the effect may

be substantially to lessen competition or tend to create a monopoly.

(b) A person may not by the use of a representative accomplish the result

prohibited in (a) of this section.

(c) The validity or invalidity of an act of a director, officer, or trustee done by

the director, officer, or trustee while occupying the position in violation of this

section shall be determined by the statutory and common law of the state relating to

corporations, trusts, or associations.

(d) The attorney general may bring an action at any time to cause a director,

officer, or trustee who may be occupying such a position in violation of this section

to vacate the office or offices to effect the termination of the prohibited interlocking

relationship.

(e) A person affected by an act of a director, officer, or trustee may bring an

action at any time to cause the director, officer, or trustee who may be occupying the

position in violation of this section to terminate the prohibited interlocking

relationship.

(f) The court, upon finding that a director, officer, or trustee is holding office

in violation of this section, shall order the person to terminate the interlocking

relationship, and, in the case of a trustee, the court may, when it considers it

appropriate, order the trustee to vacate the office of the trustee. A remedy provided in

this section does not limit and is in addition to any other remedy available under

another section of this chapter or another law.

§ 45.50.572. Exemptions

(a) AS 45.50.562 - 45.50.596 do not forbid the existence or operation of

labor, agricultural, horticultural, or marine pilot organizations created for the purpose

of mutual help, and not conducted for profit, or forbid or restrain members of those