HB 274 Summary

• Amends AS 45.50.481(a) to clarify that acts and transactions regulated by state statute or regulation administered by the state, including state regulatory boards or commissions, are exempt from unfair competition and deceptive practices laws unless the statute or regulation fails to prohibit the unlawful practices listed in AS 45.50.471.

• Modifies the exemption language to specify "state regulatory board or commission" rather than referring to officers acting under statutory authority of the state or United States.

• Maintains existing exemptions for newspaper, periodical, and radio or television station publishers and their agents when they lack knowledge of false, misleading, or deceptive advertising or have no direct financial interest in the advertised product or service.

• Preserves exemptions for acts and transactions regulated under AS 21.36 (insurance) or AS 06.05 (financial institutions).

• Clarifies in AS 45.50.481(c) that acts or transactions specifically listed in AS 45.50.471(b) or regulated under AS 06.60 (credit unions) are not eligible for the regulatory exemption.