reglab/housing_qa huggingface dataset:
AK Stat § 06.15.280 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.280. Investment in promissory notes.

Subject to the provisions of this chapter and regulations under this chapter, a mutual bank may invest in a promissory note, subject to the following limitations: (1) a promissory note payable to the order of the mutual bank that is (A) secured by the assignment of one or more mortgages in which a mutual bank may invest if the amount so invested in the note does not exceed 90 percent of the principal sum secured by the mortgages; the assignment of a mortgage taken as security for the note shall be recorded or registered in the office of the proper recording officer of the recording precinct in which the real property described in the mortgage is located; (B) secured by any of the bonds or other securities in which a mutual bank may invest if the amount invested in the note does not exceed 90 percent of the market value of the bonds or other securities at the time of the investment; (C) secured by an insurance policy to the extent of the policy's cash surrender value; (D) made by a savings and loans association that has been incorporated three years or more and has an accumulated capital of at least $50,000; (2) a promissory note payable to the order of the mutual bank within one year from its date that is secured by the assignment of a deposit in a federally insured thrift institution if the amount of the investment in the note is not in excess of the amount of the deposit.
AK Stat § 06.15.290 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.290. Establishment of branches.

A mutual bank may, with the approval of the department, establish and operate branches inside the state. Before approving the establishment and operation of a branch office, the department shall make the findings required before the granting of a charter to a mutual bank with respect to the branch proposed.
AK Stat § 06.15.300 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.300. Conversion of thrift institution to mutual bank.

Any thrift institution other than a mutual bank may, with the approval of the department, convert itself into a mutual bank upon the affirmative vote of not less than a majority of the votes cast by those entitled to vote upon its affairs at a duly called and held meeting and shall thereupon possess the powers of and be subject to the duties imposed upon mutual banks under the provisions of this chapter. Before approving a conversion, the department shall determine that the thrift institution seeking conversion has the ability to discharge the duties and conform to the restrictions upon mutual banks and has previously so conformed to the extent required by the department. However, the institution may retain and service all accounts lawfully held by it on the date of its conversion.
AK Stat § 06.15.310 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.310. Conversion of mutual bank to thrift institution.

A mutual bank may, with the approval of the regulatory authority having jurisdiction over the creation of the thrift institution and upon the affirmative vote of a majority of its corporators, convert itself into a thrift institution organized under federal law or the laws of this state.
AK Stat § 06.15.320 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.320. Merger and consolidation of mutual banks.

Two or more mutual banks may, with the approval of the department, and upon the affirmative vote of not less than two-thirds of the corporators of each such mutual bank, enter into an agreement of merger or consolidation. Thereafter the merger or consolidation shall be effective under the terms of the agreement.
AK Stat § 06.15.330 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.330. Condition of department approval.

Before approving a merger or consolidation the department shall give consideration to the purposes of this chapter and the prospects of the surviving or consolidated mutual bank for financial success and its ability to discharge the duties and conform to the restrictions imposed upon a mutual bank.
AK Stat § 06.15.340 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 3. Branches, Conversion, Merger, and Consolidation.|Sec. 06.15.340. Transfer and exercise of rights.

All rights, franchises, and property interests of the merged or consolidating mutual banks are transferred to and vested in the surviving or consolidated mutual bank by virtue of the merger or consolidation without the requirement under this chapter of a deed or other instrument of transfer. The surviving or consolidated mutual bank may exercise all rights and privileges of the merged or consolidating mutual banks in accordance with the terms of the merger or consolidation agreement. The surviving or consolidated mutual bank is responsible for all debts and obligations of the merged or consolidating mutual bank under the terms of the merger or consolidation agreement.
AK Stat § 06.15.350 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 4. General Powers of Mutual Banks.|Sec. 06.15.350. General powers.

A mutual bank (1) shall have indefinite succession; (2) may adopt and use a seal; (3) may sue and be sued; (4) may adopt, amend, and repeal rules and regulations governing the manner in which its business may be conducted and the manner in which the powers vested in it may be exercised; (5) may make and carry out contracts and agreements, provide benefits to its personnel, and take other action, as it considers necessary or desirable in the conduct of its business; (6) may appoint and fix the compensation of officers, attorneys, and employees desirable for the conduct of its business, define their authority and duties, delegate to them the powers the trustees determine, require bonds of them as the trustees designate and fix their penalties and pay the premiums on the bonds; (7) may acquire by purchase or lease real property or interest therein as the trustees consider necessary or desirable for the conduct of its business, and sell, lease, or otherwise dispose of real property or interest therein; (8) may exercise the powers of a bank granted under AS 06.05 (Alaska Banking Code); and (9) may convert from a mutual bank to a capital stock bank under a plan approved by the department.
AK Stat § 06.15.360 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 4. General Powers of Mutual Banks.|Sec. 06.15.360. Additional powers.

The enumeration of powers in AS 06.15.350 does not exclude other powers appropriate for the achievement of the objects and purposes of a mutual bank under this chapter. With the approval of the department, a mutual bank may provide for the exercise of other powers in its bylaws, rules, or regulations.
AK Stat § 06.15.370 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 5. General Provisions.|Sec. 06.15.370. Definitions.

In this chapter, (1) “conventional loan” means a loan secured by a first mortgage on unencumbered real property or leasehold estate other than a loan guaranteed or insured by a federal agency; (2) “department” means the Department of Commerce, Community, and Economic Development; (3) “financial institution” means a thrift institution, a commercial bank, a trust company, or an insurance company; (4) “mutual bank” means a mutual savings bank chartered under this chapter; (5) “thrift institution” means a cooperative bank, a homestead association, a mutual savings and loan association, or a mutual bank.
AK Stat § 06.15.380 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 5. General Provisions.|Sec. 06.15.380. Short title.

This chapter may be cited as the Mutual Savings Bank Act.
AK Stat § 06.20.010 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.010. License required.

(a) A person may not engage in the business of making loans of money, credit, goods, or things in action in the amount or of the value of $25,000 or less and charge, contract for, or receive on the loan a greater rate of interest, discount, or consideration than the lender would be permitted by law to charge if the person were not a licensee under this chapter, except as authorized by this chapter and without first obtaining a license from the department. (b) A person who is doing business under and as permitted by any law of the state or of the United States relating to banks, savings banks, trust companies, building and loan associations, or credit unions and who is exempt from the licensing requirement in (a) of this section shall comply with all other provisions of this chapter.
AK Stat § 06.20.020 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.020. Application for license; disclosure for child support purposes.

(a) Application for a license shall be in writing under oath, and in the form prescribed by the department, and must contain the name and the residence and business address of the applicant, the district and municipality with street and number, if any, where the business is to be conducted and other information as the department may require. If the applicant is a copartnership or association, the application must contain the residence and business address of each member; if the applicant is a corporation, the application must contain the residence and business address of each officer and director. (b) In addition to the requirements in (a) of this section, if a natural person makes application for a license, the applicant shall supply the applicant's social security number to the department. Upon request, the department shall provide the social security number to the child support services agency created in AS 25.27.010, or the child support enforcement agency of another state, for child support purposes authorized under law.
AK Stat § 06.20.030 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.030. Fees and charges.

(a) Investigation expenses incurred by the department in processing an application for licensure shall be charged to and paid by the applicant under AS 06.01.010. At the time of submitting the application to the commissioner, the applicant shall pay to the department $1,000 in partial payment of those investigation expenses incurred by the department. (b) An applicant shall pay to the department at the time of submitting an application a sum, in addition to that specified in (a) of this section, of $500 for a single office license, or $2,000 for a multiple office license as an annual license fee for a period terminating on the last day of the current calendar year. (c) The license fee required by this section is in place of the fee under AS 43.70 (Alaska Business License Act).
AK Stat § 06.20.040 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.040. Liquid assets required.

An applicant shall prove, in form satisfactory to the department, that the applicant has available for the operation of the business at the location specified in the application, liquid assets of at least $25,000, or, in the case of a multiple office license, that the equivalent amount is available to each office from a central account maintained by the applicant.
AK Stat § 06.20.050 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.050. Bond.

The applicant shall file with the application a bond to be approved by the department in which the applicant shall be the obligor, in the sum of $25,000 with one or more sureties. Only one bond is required for an application for a multiple office license. The bond shall be for the use of the state and any person who may have a cause of action against the obligor under this chapter. The bond must state that the obligor will faithfully conform to and abide by the provisions of this chapter and of all regulations lawfully adopted by the department, and will pay to the state and to any person all money that may become due or owing to the state or to the person from the applicant under this chapter.
AK Stat § 06.20.060 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.060. Issuance of license.

Upon the filing of the application, the payment of the fees and the approval of the bond, the department shall issue a license to the applicant if it finds upon investigation that (1) the financial responsibility, experience, character, and general fitness of the applicant and of its members if the applicant is a copartnership or association, and of its officers and directors if the applicant is a corporation, are such as to command the confidence of the community and to warrant belief that the business will be operated honestly, fairly, and efficiently within the purposes of this chapter, and (2) allowing the applicant to engage in business at the location will provide accessibility and convenience for borrowers of money, and (3) the applicant has available for the operation of the business at the specific location liquid assets of at least $25,000, or, in the case of a multiple office license, that the equivalent amount is available to each office from a central account maintained by the applicant. The foregoing facts are conditions precedent to the issuance of a license under this chapter. The license permits the applicant to make loans in accordance with this chapter at the location or locations specified in the application. The license remains in full force and effect until it is surrendered by the licensee or revoked or suspended. If the department denies the application, it shall notify the applicant of the denial, bill the applicant for any outstanding expenses incurred by the department during the investigation and return the bond if those expenses have been paid. The department shall approve or deny every application for license within 60 days from the filing of the application with the fees and the approved bond. If the application is denied, the department shall, within 20 days thereafter, serve upon the applicant a copy of the written decision and findings. The decision and findings may be reviewed in the manner provided in AS 44.62.560 and 44.62.570 (Administrative Procedure Act).
AK Stat § 06.20.070 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.070. Form, posting, and transfer of license.

The license must state the address at which the business is to be conducted and the full name of the licensee. If the licensee is a copartnership or association, the license must state the names of its members, and if a corporation, the date and place of its incorporation. The license shall be conspicuously posted in the place of business of the licensee. The license is not transferable or assignable.
AK Stat § 06.20.080 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.080. Additional bond.

If at any time the department finds that the bond is unsatisfactory for any reason, it may require the licensee to file, within 10 days after the receipt of a written demand therefor, an additional bond complying with the provisions of AS 06.20.050.
AK Stat § 06.20.090 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.090. Places of business.

(a) A licensee may maintain only one place of business under a single office license, or up to 10 places of business under each multiple office license. The department may issue more than one license to the same licensee upon compliance with the provisions of this chapter governing the original issuance of a license. (b) If a licensee changes the place of business to another location within the same municipality, the licensee shall give written notice to the department in advance. Upon approval, the department shall issue an amended license for the new location. A licensee may not change the place of business to a location outside the municipality in which the licensee is authorized to do business.
AK Stat § 06.20.100 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 1. Licensing.|Sec. 06.20.100. New bond.

On or before December 20 of each year, each licensee shall file a new bond that complies with AS 06.20.050.
AK Stat § 06.20.110 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.|Sec. 06.20.110. Grounds for revocation of license.

The department shall, under the Administrative Procedure Act (AS 44.62), revoke any license issued under this chapter if it finds that (1) the licensee has failed to pay the annual license fee or to maintain the required bond in effect or has failed to comply with any lawful demand, ruling, or requirement of the department made under and within the authority of this chapter; (2) the licensee has violated a provision of this chapter or a regulation lawfully adopted by the department under and within the authority of this chapter; or (3) any fact or condition exists that, if it had existed at the time of the original application for the license, clearly would have constituted ground for denial of the issuance of the license.
AK Stat § 06.20.120 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.|Sec. 06.20.120. Revocation or suspension where licensee has branches.

Where a licensee holds more than one license, the department may revoke or suspend any license for which grounds for the action exist.
AK Stat § 06.20.130 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.|Sec. 06.20.130. Surrender.

A licensee may surrender a license by delivering written notice of the surrender to the department. The surrender does not affect the licensee's civil or criminal liability for acts committed before the surrender.
AK Stat § 06.20.140 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.|Sec. 06.20.140. Effect of revocation, suspension, or surrender.

A revocation, suspension, or surrender of a license does not impair or affect the legally enforceable obligation of any pre-existing contract between the licensee and any borrower.
AK Stat § 06.20.150 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 2. Revocation, Suspension, Surrender, and Reinstatement of Licenses.|Sec. 06.20.150. Status of license; reinstatement.

Every license remains in force and effect until it is surrendered, revoked, or suspended as provided in this chapter. The department may reinstate, suspend licenses, or issue new licenses to a licensee whose license has been revoked if no fact or condition exists that clearly would have constituted ground for denial of the issuance of the license by the department.
AK Stat § 06.20.160 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 3. Inspections, Examinations, Records, and Reports.|Sec. 06.20.160. Inspection and examination of licensees.

For the purpose of discovering violations of this chapter or securing information required by it under this chapter, the department or its duly designated representative may investigate at any time the loans and business and examine the books, accounts, records, and files used in the business, of every licensee and of every person engaging in the business described in AS 06.20.010, whether the person acts or claims to act as principal or agent, or under or without the authority of this chapter. For that purpose the department and its duly designated representative have free access to the office and place of business, books, accounts, papers, records, files, safes, and vaults of all such persons. The department and all persons duly designated by it may require the attendance and examination under oath of all persons whose testimony it may require relative to the business.
AK Stat § 06.20.170 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 3. Inspections, Examinations, Records, and Reports.|Sec. 06.20.170. Periodic examination.

The department shall examine the affairs, business, office, and records of each licensee at least once every 18 months. Examination fees are to be charged to and paid by the licensee in accordance with AS 06.01.010. The department may maintain an action for the recovery of the costs in any court of competent jurisdiction, with recourse to the bonds referred to in AS 06.20.050 and 06.20.080.
AK Stat § 06.20.180 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 3. Inspections, Examinations, Records, and Reports.|Sec. 06.20.180. Books and records of licensees.

Each licensee shall keep and use in the licensed premises those books, accounts, and records that will enable the department to determine whether the licensee is complying with this chapter and with the regulations lawfully adopted by the department under this chapter. The maintenance of separate books and records for another business authorized by the department under AS 06.20.210 is not required. The method of tracking and numbering the loans shall be determined by the licensee, as long as the system enables the department to perform the department's obligations under this title. The licensee shall preserve the books, accounts, and records, including cards used in the card system, if any, for two years after making the final entry on any recorded loan.
AK Stat § 06.20.190 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 20. Alaska Small Loans Act|Article 3. Inspections, Examinations, Records, and Reports.|Sec. 06.20.190. Annual reports of licensees.

Each licensee shall, on or before March 15 of each year, file a report with the department containing information as the department may reasonably require concerning the business and operations during the preceding calendar year of each licensed place of business conducted by the licensee inside the state. The report shall be made under oath and shall be in the form prescribed by the department, and shall be kept available as a public record.