00HOUSE BILL NO. 438                                                                                                    
01 "An Act establishing an exemption for investment clubs from the business license                                        
02 requirement."                                                                                                           
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 43.70.110(1) is amended to read:                                                                  
05   (1)  "business" includes all activities or acts, personal, professional, or                                          
06 corporate, engaged in or caused to be engaged in, or following or engaging in a trade,                                  
07 profession, or business, including receipts from advertising services, rental of personal                               
08 or real property, construction, processing, or manufacturing, but excluding fisheries                                   
09 businesses, fishermen, liquor licenses, insurance businesses, mining, and coin-operated                                 
10 amusement and gaming machines, calling or vocation, with the object of financial or                                     
11 pecuniary gain, profit or benefit, either direct or indirect, and not exempting                                         
12 subactivities producing marketable commodities or services used or consumed in the                                      
13 main business activity, each of which subactivities shall be considered business; the                                   
14 giving or supplying of services as an employee and the furnishing of property,                                          

01 services, substances, or things, by a person who does not represent to be regularly                                     
02 engaging in those transactions, does not constitute business under the meaning of this                                  
03 chapter;  "business" does not include the activities of an investment club; in this                                    
04 paragraph, "investment club" means a group of individuals, incorporated or                                              
05 otherwise organized, that engages primarily in investing in securities, that does                                       
06 not sell investment services to another person, and the primary purpose of which                                        
07 is educational; and in this paragraph, "security" has the meaning given in                                              
08 AS 45.55.990;