Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 1 - Banking, Securities, Small Loans and Corporations › Chapter 08 - Securities › Article 3 - Alaska Native Claims Act Corporations: Solicitation of Proxies › 3 AAC 08.360 - Investigations

Current through May 31, 2024
(a) A shareholder, director, or officer of a
				  corporation subject to
				  AS
				  45.55.139, aggrieved by an alleged violation
				  of 3 AAC 08.305 -
				  3 AAC 08.365 may request that the administrator
				  investigate the alleged violation. An aggrieved person is not required to
				  request that the administrator investigate an alleged violation before seeking
				  other remedies, including court action.
(b) Except as provided in this subsection, a
				  request for investigation must be filed with the administrator not later than
				  90 days after the date of the shareholder vote for which the proxies in
				  question were solicited. If the administrator finds the requester did not
				  discover and reasonably could not have discovered the alleged violation within
				  the time required by this subsection, the deadline for filing the request for
				  investigation is 90 days after the time the requester discovered or reasonably
				  should have discovered the alleged violation.
(c) A request for investigation must be filed
				  with the administrator on a form provided by the administrator or in a separate
				  writing. A request for investigation that is not filed on a form provided by
				  the administrator must include
(1) the full
				  name, mailing address, telephone number, and electronic mail address, if any,
				  for the requester and, if the requester is not a corporation under
				  3 AAC 08.305, for both the requester and the
				  corporation;
(2) the date of the
				  shareholder meeting for which proxies are solicited, if known;
(3) the full name, mailing address, telephone
				  number, and electronic mail address, if known, of the alleged violator of
				  3 AAC 08.305 -
				  3 AAC 08.365;
(4) each regulation allegedly
				  violated;
(5) a description of the
				  solicitation involving an alleged violation and a copy of any materials
				  relevant to an alleged violation;
(6) the full name, mailing address, telephone
				  number, and electronic mail address, if any, of other persons who may have
				  information regarding the alleged violation;
(7) a written summary of any meetings,
				  communications, or other contacts that the requester has had with the alleged
				  violator of
				  3 AAC 08.305 -
				  3 AAC 08.365 regarding the alleged violation;
(8) a description of any court action related
				  to the alleged violation of
				  3 AAC 08.305 -
				  3 AAC 08.365 that has been filed; and
(9) the requester's signed acknowledgment
				  that the information provided
(A) is true and
				  complete to the best of the requester's knowledge;
(B) must be updated immediately by the
				  requester if other information is discovered, a ruling or decision is issued in
				  a court action, or a court action is filed;
(C) may be disclosed by the administrator as
				  necessary or appropriate to investigate an allegation, in a public order of the
				  administrator, or at an administrative hearing that could result from an
				  investigation;
(D) constitutes a
				  request for an investigation under this section;
(E) if the request is filed more than 90 days
				  after the date of the shareholder vote for which the proxies in question were
				  solicited, the reason that the requester did not discover and reasonably could
				  not have discovered the alleged violation within the 90-day period required by
				  (b) of this section.