reglab/housing_qa huggingface dataset:
AK Stat § 06.05.550 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 7. International and Interstate Banks and Out-of-State Bank Holding Companies and Depository Institutions; Relationship with In-State Depository Institutions.|Sec. 06.05.550. Authority of international bank, interstate state bank, or interstate national bank to branch.

(a) An international bank, an interstate state bank, or an interstate national bank whose deposits are insured by the Federal Deposit Insurance Corporation may acquire a branch bank as the result of a merger or consolidation of the international bank, interstate state bank, or interstate national bank with, or the purchase of all or substantially all of the assets of, a state bank, a national bank with its principal office in this state, or a branch of the state bank or national bank, unless the state bank or national bank is a recently formed bank. (b) An international bank may establish a new branch bank in this state or acquire a recently formed bank if the department approves the establishment or acquisition before the establishment or acquisition occurs. An interstate state bank or interstate national bank may not establish a branch bank in this state unless the establishment occurs through an acquisition under (a) of this section of a bank located in the state. An interstate state bank or interstate national bank may not establish a new branch bank in this state. (c) An interstate state bank, interstate national bank, or international bank that opens, occupies, or maintains a branch bank in the state has the same powers under the laws of the state as a state or national bank of the same type.
AK Stat § 06.05.557 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 7. International and Interstate Banks and Out-of-State Bank Holding Companies and Depository Institutions; Relationship with In-State Depository Institutions.|Sec. 06.05.557. Notice filing for interstate national banks.

An interstate national bank acquiring a branch in this state under AS 06.05.550 shall file a notice of the acquisition with the department along with a copy of the application filed with the agency that primarily regulates the interstate national bank. The notice and copy of the application shall be filed with the department at the same time the application is filed with the agency that primarily regulates the interstate national bank.
AK Stat § 06.05.560 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 7. International and Interstate Banks and Out-of-State Bank Holding Companies and Depository Institutions; Relationship with In-State Depository Institutions.|Sec. 06.05.560. Asset requirements for international banks.

(a) An international bank that operates one or more branch banks in the state shall maintain in the state assets in an amount acceptable to the department, except that the amount may not be less than the amount of deposits payable at or through the branch banks. (b) The department shall determine the value of the assets maintained by the international bank for purposes of this section. In making its determination, the department may include as assets currency, bonds, notes, debentures, drafts, bills of exchange, and other evidences of indebtedness owed by persons in the United States and collectible in the United States in United States currency or, with the approval of the department, in currency freely convertible into United States currency, but the department may not include as assets prepaid expenses, customers' liability on prepaid expenses, or amounts due from other offices, branches, or wholly owned subsidiaries of the international bank. (c) When the department takes possession of a branch bank of an international bank under AS 06.05.468 and 06.05.470, the assets of the international bank in the state shall be turned over to the department and disbursed as provided in AS 06.05.470 - 06.05.473.
AK Stat § 06.05.900 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 8. General Provisions.|Sec. 06.05.900. Copies of records for child support purposes.

If a copy of a record concerning an individual who owes or is owed child support, including a record concerning assets and liabilities of the individual, prepared or maintained by a bank of this state is requested by the child support services agency established in AS 25.27.010 or the child support enforcement agency of another state, the bank shall provide the requesting agency with a certified copy of the record. If information is prepared or maintained by the bank in an electronic data base, the bank may provide the requesting agency a copy of the electronic record and a statement certifying its contents. The agency receiving information under this section may use the information only for child support purposes authorized under law.
AK Stat § 06.05.910 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 8. General Provisions.|Sec. 06.05.910. Construction with subsequent legislation.

No part of this chapter shall be considered to be impliedly repealed by subsequent legislation not specifically repealing it if that construction can be avoided.
AK Stat § 06.05.995 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 8. General Provisions.|Sec. 06.05.995. Short title.

This chapter may be cited as the Alaska Banking Code.
AK Stat § 06.15.010 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.010. Declaration of policy.

In providing authority for the establishment of mutual savings banks it is the intent of the legislature to make available the benefits of mutual savings banking, thereby encouraging the practice of thrift and promoting the accumulation of funds for investment to develop the economy. For the accomplishment of these purposes, the legislature intends by this chapter to vest in mutual banks those powers generally possessed by state-chartered mutual savings banks and to grant authority to the Department of Commerce, Community, and Economic Development to define powers and to adopt regulations designed to enable mutual savings banks to perform their functions and to carry out the above purposes, subject to the provisions of AS 06.05 (Alaska Banking Code) that are not inconsistent with this chapter.
AK Stat § 06.15.020 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.020. Chartering of mutual banks.

Upon written application by five signatories from among not less than 21 individuals acting in the capacity of qualified corporators named in the application, the department may issue a charter for a mutual bank.
AK Stat § 06.15.030 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.030. Issuance of charter.

A charter shall be issued if the department finds that a mutual bank will serve a useful purpose in the community in which it is proposed to be established, that there is reasonable expectation of its financial success, and that its operation will not unduly injure existing banking institutions.
AK Stat § 06.15.040 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.040. Qualification of corporators.

(a) Each corporator shall be an individual, not of unsound mind or capacity, whom the department finds to be of financial responsibility and good character. Without in any way limiting, by enactment of this section, the general regulatory power granted the department by this or any other act, the department may regulate the activities of corporators and prescribe standards of conduct for corporators in their dealings with their mutual bank. (b) At least a majority of the corporators shall be residents of this state.
AK Stat § 06.15.050 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.050. Corporators.

At their organizational meeting, the corporators shall adopt rules governing their activities as corporators, and may amend the rules from time to time. The rules shall establish the number of corporators and shall prescribe that any number of corporators not less than one-quarter of those at the time in office shall constitute a quorum for the purpose of doing business. At the organizational meeting, or an adjournment thereof, the corporators shall, by majority vote of those present, elect one-third of the total number of corporators to serve for a term of four years, one-third to serve for a term of seven years, and one-third to serve for a term of 10 years. Thereafter each corporator shall be elected for a term of 10 years so that the term of not more than one-third of the corporators will expire in any three-year period. The office of any corporator who becomes of unsound mind and capacity becomes vacant. Successor and additional corporators shall be elected by a majority vote of the corporators present at a duly constituted meeting. A corporator may be removed from office for cause upon the affirmative vote of two-thirds of the total number of corporators.
AK Stat § 06.15.060 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.060. Trustees.

The corporators shall elect a board of trustees from among their number, consisting of not less than seven nor more than 25, or one-half of all the corporators minus one, whichever is less. A majority of the trustees shall be residents of this state.
AK Stat § 06.15.070 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.070. Terms of trustees.

The corporators shall, by a majority vote of those present at their organizational meeting, elect a board of trustees in the following manner: one-third for a term of one year; one-third for a term of two years; and one-third for a term of three years. Thereafter trustees shall be elected to serve for a term of three years. The office of any trustee becomes vacant if the trustee ceases to hold office as a corporator.
AK Stat § 06.15.080 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.080. Management and control of mutual bank; bylaws.

The management and control of the affairs of a mutual bank are vested in the board of trustees. The board of trustees may adopt, amend, and repeal bylaws governing the affairs of the mutual bank.
AK Stat § 06.15.090 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.090. Failure to attend meetings.

The office of a trustee becomes vacant if the trustee fails to attend regular meetings of the trustees for a period of six months, unless excused during that period by a resolution adopted by the trustees.
AK Stat § 06.15.100 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.100. Prohibited conduct of trustees.

A trustee may not (1) receive remuneration as trustee except reasonable fees for attendance at meetings of trustees or for services as a member of a committee of trustees; (2) use the position as trustee, or knowingly allow it to be used, to obtain preferential terms in dealings with the mutual bank for which the person is trustee; (3) use the position as trustee, or knowingly allow it to be used, to induce an actual or prospective borrower from the mutual bank for which the person is trustee to purchase goods or services at a direct or indirect profit to the trustee.
AK Stat § 06.15.105 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.105. Trustee borrowing.

A person may borrow money from the mutual bank for which the person is trustee to the same extent that a director may borrow money under AS 06.05.210.
AK Stat § 06.15.110 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.110. Trustee as officer or attorney.

Nothing contained in AS 06.15.100 prohibits or limits any right of a trustee who is also an officer or attorney of the mutual bank from receiving compensation for services as an officer or attorney.
AK Stat § 06.15.120 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.120. Exceptions.

Upon application by a mutual bank, an exception may be granted to any prohibition contained in AS 06.15.100 following a determination by the department that the exception sought is equitable, is supported by evidence, and is in the best interests of the depositors of the mutual bank.
AK Stat § 06.15.130 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.130. Deposit of funds.

A mutual bank may not deposit any of its funds except with a depositary approved by vote of a majority of all the trustees, exclusive of any trustee who is an officer, partner, director or trustee of the depositary.
AK Stat § 06.15.140 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 1. Formation and Management of Mutual Banks.|Sec. 06.15.140. Commencement of operation.

(a) A mutual bank may not begin operation until the department has given its approval to do so. The department may not grant approval to begin operation until the mutual bank has qualified as an insured bank under the Federal Deposit Insurance Act and complied with the provisions of AS 06.05 (Alaska Banking Code) that are not inconsistent with this chapter. A mutual bank that ceases to be qualified under this subsection shall immediately stop operation. (b) A mutual bank may not commence operation until it has deposited in cash to its credit as an expense fund such sums as the department may require. The deposit shall be evidenced by transferable deferred payment certificates.
AK Stat § 06.15.150 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.150. Surplus requirements.

The department may not issue a charter until there is deposited not less than $50,000 in cash to the credit of the mutual bank. The amount of the deposit constitutes the initial surplus. All amounts advanced as initial surplus shall be evidenced by transferable deferred payment certificates. The department shall approve the maturity, amount of installment repayment, and interest rate of each certificate.
AK Stat § 06.15.160 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.160. Additions to surplus.

As soon as practicable after the close of each fiscal year during its first 10 years of operation, each mutual bank shall credit to surplus at least 10 percent of its net earnings before interest for the preceding fiscal year. At the close of each fiscal year thereafter, each mutual bank shall credit to surplus a proportion of its net earnings for the preceding fiscal year, not exceeding 10 percent, as the department may prescribe by regulation. These credits to surplus shall be made only until surplus equals 12 percent of deposit liabilities. Thereafter and so long as surplus equals 12 percent of deposit liabilities the mutual bank may credit further amounts to surplus as it may determine.
AK Stat § 06.15.170 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.170. Limitation on use of surplus.

The surplus of an operating mutual bank may be used only for the purpose of meeting losses.
AK Stat § 06.15.180 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.180. Borrowing.

A mutual bank may borrow from any source and in any manner amounts without limit that are required to satisfy its obligations to its depositors. It may borrow for other purposes an aggregate outstanding amount not to exceed (1) five percent of its total assets at the time of borrowing, exclusive of any sums borrowed under AS 06.15.140 - 06.15.170; (2) 15 percent of its total assets if borrowing from the Federal Home Loan Bank.
AK Stat § 06.15.190 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.190. Deposits.

A mutual bank may accept savings deposits to be held solely and absolutely in its own right by or in trust or other fiduciary capacity for any person, including an adult or minor individual, male or female, single or married, a partnership, nonprofit organization, association, fiduciary, corporation, or political subdivision or public or governmental unit. The bank may issue a passbook or other evidence of its obligation to repay the savings deposits.
AK Stat § 06.15.210 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.210. Right to reject, repay, and classify deposits.

A mutual bank may (1) reject any sums offered for deposit; (2) repay any deposit at any time; and (3) classify and differentiate among deposits on any bases that it may determine.
AK Stat § 06.15.220 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.220. Interest on deposits.

A mutual bank may pay interest on deposits from net earnings and undivided profits at the rates and intervals that its trustees approve.
AK Stat § 06.15.230 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.230. Withdrawal of deposits.

A mutual bank may at a time by resolution of its board of trustees require that up to 90 days' advance notice be given to it by each depositor before the withdrawal of any deposit or portion thereof. If the board of trustees adopts a resolution, a deposit does not need to be paid until the expiration of the notice period specified in the resolution. A mutual bank shall notify the department in writing on the day of the adoption of the resolution. Notwithstanding adoption of the resolution, a mutual bank may permit withdrawal of all or a part of any deposit prior to the expiration of the notice period prescribed by the resolution. The resolution may be rescinded at any time.
AK Stat § 06.15.240 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.240. Investments authorized.

Subject to the provisions of this chapter and regulations under this chapter, a mutual bank may invest in (1) obligations of the United States and those for which the faith of the United States is pledged to provide for the payment of the interest and principal, obligations for which annual contributions to be paid under contract by the United States government or any of its instrumentalities in accordance with an Act of Congress entitled the “Housing Act of 1949,” are pledged as security for the payment of the interest and principal, and obligations of any agency of the United States; (2) obligations of any state of the United States and those for which the faith of any state of the United States is pledged to provide for the payment of the interest and principal; (3) obligations of a city, village, town, county, department, agency, district, authority, commission or other public body of any state of the United States, subject to the exercise of the same degree of care and prudence that persons prompted by self-interest generally exercise in their own affairs; (4) any property improvement note issued under the provisions of Title I of the National Housing Act and any other real property improvement note in a principal amount not in excess of $15,000, not including interest; (5) obligations of the Dominion of Canada or provinces of the Dominion of Canada payable in United States funds; (6) the stocks, bonds, and other securities of (A) a corporation licensed under AS 10.13; or (B) a corporation attempting to become licensed under AS 10.13 if the corporation intends to use the proceeds to fulfill the tasks necessary to become licensed under AS 10.13.
AK Stat § 06.15.260 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.260. Investment in bankers' acceptances.

Subject to the provisions of this chapter and regulations under this chapter a mutual bank may invest in bankers' acceptances that have been accepted by a bank, trust company, national bank, investment company, or banking corporation organized under the laws of the United States or of any state, which is a member of the Federal Reserve System.
AK Stat § 06.15.270 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 15. Mutual Savings Bank Act|Article 2. Banking Practices.|Sec. 06.15.270. Investment in corporate securities.

(a) Subject to the provisions of this chapter and regulations under this chapter a mutual bank may invest in corporate securities, subject to the exercise of the same degree of care and prudence that persons prompted by self-interest generally exercise in their own affairs, and subject to the following limitations: (1) a mutual bank may not invest in any corporate obligation, other than under AS 06.15.280, that will mature by its terms within one year from the date of its issuance, or if issued or made in series or repayable in installments, has an average maturity of less than one year; (2) a mutual bank may not invest in (A) stocks an amount greater than 10 percent of its assets or 100 percent of its surplus and undivided profits, whichever is less; (B) common stock an amount greater than six percent of its assets or 60 percent of its surplus and undivided profits, whichever is less; (C) the common and preferred stocks of one issuer an amount greater than one percent of its assets; or (D) more than two percent of the total issued and outstanding shares of stock of any one issuer. (b) The limitations of this section do not apply to a mutual bank's investments in a wholly owned subsidiary corporation that owns or leases real or personal property for the purpose of providing a building and facilities to be used primarily for the conduct of the authorized banking activities of the mutual bank.