Alaska Administrative Code
Title 8 - Labor and Workforce Development
Part 11 - Vocational Rehabilitation and Adult Basic Education
Chapter 98 - Vocational Rehabilitation
Article 2 - Business Enterprise Program
8 AAC 98.420 - Termination of business

Universal Citation: 8 AK Admin Code 98.420

Current through August 30, 2024

(a) A licensee who discontinues operation of a vending facility is responsible for financial liabilities incurred in operating the facility. If the wholesale value of saleable merchandise, cash on hand, and the facility account is greater than the value of the original inventory and cash provided the facility by the division, the division will reimburse the licensee for the excess, less any unpaid bills or other liabilities. If the wholesale value of saleable merchandise, cash on hand, and the facility account is less than the value of the original inventory and cash provided the facility by the division, the licensee shall pay the division the balance plus any unpaid bills and other liabilities.

(b) When a licensee discontinues operation of a vending facility, the licensee and the division shall conduct an inventory to ensure that the equipment, fixtures, and initial inventory that the division provided are accounted for and in operable condition.

Authority:AS 23.15.020(c)

AS 23.15.100(b)

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