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AMERICAN GOLD & DIAMOND CORP. v. KIRKPATRICK

No. 7608.

678 P.2d 1343 (1984)

AMERICAN GOLD & DIAMOND CORPORATION, a Utah corporation, John Crooks, Frank L. Davis, Dennis Frank, Gem-Mart Consultants, Inc., Independent Jewelry Appraisers, and United States Distributor, Inc., Appellants, v. Willis F. KIRKPATRICK, Administrator of Securities, Department of Commerce and Economic Development, Division of Banking and Securities for the State of Alaska, Appellees.

Supreme Court of Alaska.

March 16, 1984.

Attorney(s) appearing for the Case

Philip R. Linsley, Sherman Oaks, Cal., and R.J. Smith, Anchorage, for appellants.

Jeffrey W. Bush, Asst. Atty. Gen., Juneau, and Norman C. Gorsuch, Atty. Gen., Juneau, for appellees.

Before BURKE, C.J., and RABINOWITZ, MATTHEWS, COMPTON, and MOORE, JJ.

OPINION

MATTHEWS, Justice.

This appeal presents the sole issue of whether a program offered by the appellants for sale in Alaska constitutes an investment contract, and hence a security subject to registration with the State Division of Banking and Securities (hereafter the Director), appellee, before being offered to customers in Alaska. The superior court, Judge Rodger Pegues presiding, affirmed the Director...

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