(a) AS 45.63.010 , 45.63.015, 45.63.020, and AS 45.63.030 (c) and (d) do not apply to a sale or attempted sale
(1) of a security regulated under AS 45.55 or a security that is exempted by AS 45.55.900 from regulation under AS 45.55;
(2) by a person registered with the United States Securities and Exchange Commission when acting within the scope of the person's Securities and Exchange Commission license;
(3) by an issuer, or a subsidiary of an issuer, of a class of securities that is
(A) subject to 15 U.S.C. 78a - 78lll (Securities Exchange Act of 1934); and
(B) either registered under 15 U.S.C. 78a - 78lll (Securities Exchange Act of 1934) or exempt from registration under 15 U.S.C. 78l(g)(2)(A) - (C) or (E) - (H);
(4) by a real estate broker, associate real estate broker, or real estate salesperson licensed under AS 08.88 and acting in a capacity covered by the license;
(5) by a person who has a certificate of registration under AS 08.18 to operate as a contractor and is acting in a capacity covered by the certificate of registration;
(6) by an embalmer or funeral director licensed under AS 08.42 and acting in a capacity covered by the license;
(7) by an insurance agent, general agent, broker, solicitor, or adjuster licensed under AS 21.27 and acting in a capacity covered by the license;
(8) by a person who is primarily soliciting the sale of a subscription to, or advertising in, a newspaper of general circulation;
(9) by a charitable organization or paid solicitor if the organization or solicitor is registered to make charitable solicitations under AS 45.68 and is acting in a capacity that is covered by the registration;
(10) by a person who is primarily soliciting the sale of a sound recording or book
(A) if the person
(i) has no minimum purchase requirements;
(ii) provides written notice of the buyer's right to cancel at any time; and
(iii) allows the buyer to return the sound recording or book and obtain a full refund; or
(B) through a membership in a book or record club
(i) where the club provides the buyer with a form that the buyer may use to instruct the club not to ship the offered merchandise; and
(ii) that is regulated by the Federal Trade Commission as a negative option plan under 16 C.F.R. Part 425;
(11) by a publisher, or a publisher's agent operating under a written agreement between a publisher and the agent, who is soliciting the sale of a publisher's magazine if
(A) the buyer has the right to review the magazine and cancel the subscription for the magazine within seven days after receipt of the magazine or at the time the invoice is received by the buyer, whichever is later; a cancellation request is timely if the request is mailed, properly addressed and postmarked, postage prepaid, within seven days after receipt of the magazine;
(B) the right of cancellation and refund is fully disclosed in writing to the buyer before or at the time the initial invoice is received by the buyer;
(12) of services provided by a cable television system operating under a franchise issued by a municipality;
(13) by a person who is soliciting for a business, or for an affiliate of a business, that is regulated by the Regulatory Commission of Alaska;
(14) by a person whose solicitation is solely for telephone answering services provided by the person or the person's employer;
(15) of property from a mail order catalog that is published on a regular, periodic basis and that describes or pictures the items for sale and prominently provides the specific price of each item;
(16) by a supervised financial institution or the parent, subsidiary, or affiliate of a supervised financial institution; in this paragraph, "supervised financial institution" means a commercial bank, savings bank, mutual savings bank, trust company, savings and loan association, credit union, industrial loan company, personal property broker, consumer finance lender, commercial finance lender, or other financial institution if the financial institution is subject to regulation by this state or the United States;
(17) by an insurer or the parent, subsidiary, or affiliate of an insurer;
(18) by a person who solicits a sale by a contact by telephonic means without intending to complete the sales presentation during the contact, who does not complete the sales presentation during the contact, and who only completes the sales presentation at a later meeting in person, unless at the later meeting the solicitor attempts to collect payment for property or services delivered before the later meeting;
(19) of an item of personal property, including a food product, that is made by hand by an individual, if the sale or attempted sale of the item is made by the individual who made the item; in this paragraph, "made by hand" includes the use of ordinary household devices if the majority of the value of the item is added by the labor of the individual.
(b) The written disclosure required by (a)(11)(B) of this section does not apply to a sale of a magazine subscription by a publisher or a publisher's agent operating under a written agreement between a publisher and the agent
(1) where a telephone call is made to a customer to solicit a subscription renewal; or
(2) when a telephone call is initiated by the buyer, payment is made by credit card, and a telephone number to cancel the subscription is on the credit card statement description line for that charge.
Section: Previous 45.63.010 45.63.015 45.63.020 45.63.030 45.63.040 45.63.045 45.63.050 45.63.060 45.63.070 45.63.080 45.63.090 45.63.100 NextLast modified: November 15, 2016