reglab/housing_qa huggingface dataset:
AK Stat § 06.05.426 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 4. Organization, Incorporation, Certification, Capital Structure, and General Powers, Limitations, and Requirements.|Sec. 06.05.426. Automated teller machines.

(a) A state bank may establish, maintain, and operate an automated teller machine on the premises of the main office or a branch office of the bank. (b) A state bank may establish, maintain, and operate an automated teller machine at a location other than bank premises by notifying the department 30 days before the date of establishment. An automated teller machine operated off bank premises shall be made available on a nondiscriminatory basis for use by depositors of other depository institutions authorized to do business in the state, upon the agreement of the other depository institutions to pay a fair and equitable amount for the use of the machine. (c) The notice required in (b) of this section must include (1) the location and general description of the surrounding area, including a description of the business establishment, if any, in which the machine will be located; (2) the manner of operation and the kinds of transactions that the machine will perform; (3) the names of the other depository institutions that will share the machine's services; and (4) other information required by the department. (d) A state bank may invest in a corporation organized to operate machines that perform automated teller services for two or more depository institutions. (e) A person may not establish or operate an automated teller machine that accepts deposits unless those deposits are insured by the Federal Deposit Insurance Corporation or another agency of the United States that insures deposits.
AK Stat § 06.05.435 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.435. Directors.

(a) The affairs of every bank incorporated under this chapter shall be managed by not less than five directors, nor more than 25. A majority of the board of directors shall be bona fide residents of the state, and a majority constitutes a quorum for the transaction of business. (b) [Repealed, § 102 ch 26 SLA 1993.]  (c) Unless otherwise approved by the department, each director of a state bank shall own, in the director's own right or jointly with the director's spouse, free of any encumbrance, common or preferred stock of the state bank or of an entity that controls the state bank that has an aggregate par value of at least $1,000, an aggregate shareholder's equity of at least $1,000, or an aggregate fair market value of at least $1,000. (d) Each director shall take an oath that the director will faithfully and honestly perform the duties of the office and will not violate or permit to be violated any provisions of this chapter. The oath shall be filed annually in the office of the department. (e) [Repealed, § 102 ch 26 SLA 1993.]  (f) A bank shall report within 30 days to the department a change in directors, including a statement of the business and professional affiliations of new directors. (g) The department may issue an order under AS 06.01.030 removing a person from the board of directors or prohibiting a person from being on the board, if the department determines that (1) due to the competence, experience, character, or integrity of the person, it is not in the best interests of the depositors or the public for the person to be or remain on the board; (2) the person is dishonest or reckless in managing the affairs of the bank; (3) the person has persistently violated this title, the regulations adopted under this title, or the orders of the department under this title or under the regulations adopted under this title; (4) the person has been indicted for a felony or other crime involving moral turpitude or breach of trust; or (5) the person has filed a petition in bankruptcy either in an individual capacity or in the name of a corporation in which the person owns a majority of the shares. (h) In the case of an entity that owns more than one bank, a director may use the director's equity interest in the controlling entity to satisfy, in whole or in part, the equity interest requirement for one or all of the controlled banks. (i) The value of the common or preferred stock held by a director of a state bank or of an entity that controls the state bank is valued as of the date purchased, or as of the date on which the individual became a director, whichever value is greater.
AK Stat § 06.05.437 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.437. Officers.

(a) The officers of a bank shall be chosen by the board of directors. An officer may not be appointed to serve for a period longer than one year. If a president of a bank or other chief officer responsible for the management of the bank is not a director, the officer must be an ex officio member of the board of directors without the power to vote. (b) A bank shall report within 30 days to the department any changes among executive officers, including in its report a statement of the business and professional affiliations of new executive officers. (c) If the department determines that an officer or employee of the bank has been negligent, dishonest, reckless, or incompetent in the performance of official duties, the department may order the board to remove the officer or employee from office, after giving the board and the officer or employee an opportunity for a hearing under AS 06.01.030. If the board neglects or refuses to remove the officer or employee from office and if losses due to the negligence, dishonesty, recklessness, or incompetence of the officer or employee accrue to the bank after the neglect or refusal, the order of the department is conclusive evidence of the negligence of the board under this subsection in an action brought against the board, or a member of the board, for recovery of the losses.
AK Stat § 06.05.438 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.438. Directors, meetings, and duties.

(a) The board of directors of each bank shall hold a meeting at least once each month for at least 10 months in each calendar year. (b) The board of directors shall elect a secretary who shall keep a correct record of the minutes of each board meeting. The minutes shall state the date of each meeting, the names of the directors present, and the votes taken. The record of the meeting of the board of directors shall be subscribed to by the presiding officer and the secretary. The minutes shall be read and approved at the next succeeding meeting, and the minutes of that meeting shall show that fact. It is the duty of the bank examiner to examine the minutes of the board at the time of the bank's examination and to include in the report of examination any failure of the bank to comply with this section. (c) The board of directors shall designate at least one officer of the bank to prepare and submit to the board at each board meeting a report of the loans, overdrafts, and investments made by the bank in the preceding month or since the last report. The board of directors shall examine and pass upon the report and make it a part of the record of the meeting by recording the report in full in the minutes. (d) The board of directors shall appoint annually an examining committee of no less than three directors of which no more than one may be an active officer of the bank. The committee shall examine or cause to be examined the condition of the bank. A copy of the report shall be submitted to the department within 60 days after completion of the examination. (e) Unless prohibited by the articles or bylaws of the state bank, the board of directors or a committee of the board may validly conduct a meeting by communicating simultaneously with each other by means of conference telephones or similar communications equipment. (f) The department may require a meeting of the board of directors of a state bank to be held in the manner and at the time and place the department directs when, in the judgment of the department, a violation of this title has occurred or is about to occur. A report of an examination required or allowed by this title, the conclusions drawn from the examination by the department, recommendations made by the department, and other matters concerning the operation and condition of the bank may be presented to the board of directors by the department. If the department presents a report of examination or other information is presented to the board, each member of the board of directors shall furnish to the department a statement, on forms to be supplied by the department, that the member has read and is familiar with the recommendations of the department.
AK Stat § 06.05.440 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.440. Authority to declare dividends.

The directors of a bank transacting business in the state may declare a dividend out of the net profits, subject to any restrictions under AS 06.05.307(c) and after complying with AS 06.05.441 - 06.05.445.
AK Stat § 06.05.441 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.441. Conditions precedent to dividend declaration and payment.

(a) Before a bank dividend is declared or the net profits for the period covered by the dividend disposed of, and after the restoration of any undivided profits or surplus under AS 06.05.442, not less than one-fifth of these net profits shall be carried to the bank surplus account until the surplus account equals 100 percent of the paid-in capital of the bank. (b) The department may require a bank to suspend the payment of any dividends until all orders or requirements of this section and AS 06.05.442 have been complied with.
AK Stat § 06.05.442 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.442. Excess losses; restoration of surplus; payment of dividends.

A loss sustained by a bank in excess of its undivided profits and any capital contingency reserves shall be charged to its surplus account or, with the approval of the department, carried as negative undivided profits. The bank's undivided profits and surplus account shall thereafter be reimbursed from earnings, and no dividends may be declared or paid by the bank until any negative undivided profits are eliminated and the surplus account is restored to at least the amount from which the surplus was originally reduced.
AK Stat § 06.05.445 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.445. Net undivided profits and dividends.

(a) A bank may not declare or pay a dividend in an amount greater than its net undivided profits then on hand. (b) In determining net profits for the purpose of declaring a dividend, a bank may not include in its calculations (1) loan loss reserves and losses in excess of reserves, including loans or other credits upon which interest for a period of six months is due and unpaid, unless the loan or credit is well secured and in the process of collection; (2) interest accrued but not collected on loans or other credits upon which the interest due is more than 90 days delinquent; (3) interest collected but not earned; (4) assets or depreciation that the department has required to be charged off; (5) the appreciation of any asset above its actual cost to the bank; and (6) any accrued expenses, interest or taxes due from the bank.
AK Stat § 06.05.450 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.450. Shareholders list.

Each bank shall keep a record of the name and residence of each shareholder of the bank, the class and number of shares held by each, the time when each person became a shareholder, and all transfers of stock, stating the time when made, the number of shares, and by whom transferred. A list of current shareholders shall be available for inspection in the bank office by any shareholder on demand.
AK Stat § 06.05.462 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 5. Conduct of Corporate Affairs.|Sec. 06.05.462. Conversions, mergers, and consolidations.

(a) A national bank located in the state may convert to a state bank or merge or consolidate with a state bank, and a state bank may merge or consolidate with another state bank, if the merger or consolidation is consistent with federal and state law and approved by the department. (b) Before merger or consolidation under (a) of this section, banks shall file with the department an application and other information and reports that the department requires. (c) The department, in the exercise of its power to approve or disapprove applications for merger or consolidation, shall act in the interests of promoting and maintaining a sound banking system, the security of deposits and customers, the preservation of the liquid position of banks, and in the interest of preventing injurious credit expansions and contractions. (d) A state bank converting to or merging or consolidating with a national bank shall submit a copy of the application for national charter or application to convert, merge, or consolidate to the department at the time those documents are forwarded to the comptroller of the currency.
AK Stat § 06.05.466 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 6. Dissolution, Reorganization, Liquidation, and Department Possession.|Sec. 06.05.466. Dissolution before commencement of business.

If the department discovers, after it approves the articles of incorporation for a bank but before it issues a certificate of authority to the bank, a reason why a bank should not have been incorporated, or if a certificate of authority is not issued within the later of one year after the issuance of the certificate of incorporation or the time the department allows for satisfaction of conditions precedent to the issuance of a certificate of authority, the bank shall voluntarily dissolve under AS 10.06.605 - 10.06.625 or may be involuntarily dissolved by the department under AS 10.06.633.
AK Stat § 06.05.468 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 6. Dissolution, Reorganization, Liquidation, and Department Possession.|Sec. 06.05.468. Department takeover.

(a) A state bank may be closed and the department may take possession of the bank if the bank voluntarily places its affairs and assets under the department's control, or if the department finds (1) the bank has violated an order of the department; (2) the bank has violated a provision of this chapter or a regulation of the department adopted under this chapter; (3) the bank's capital is impaired or the bank is otherwise in an unsafe or unsound condition; (4) the bank's business is being conducted in an unlawful, unsafe, or unsound manner; (5) the bank is insolvent; (6) the bank is unable to continue normal operations; (7) a department examination of the bank is obstructed or impeded; (8) the bank holding company that controls the bank refuses to permit an examination as provided in AS 06.05.235; or (9) the bank has lost, or received notice of the termination or suspension of, its membership in the Federal Deposit Insurance Corporation or has relinquished its membership in the Federal Deposit Insurance Corporation without the consent of the department. (b) Except as provided in (d) of this section, before the department may take possession of a bank the department shall issue a notice to the board of directors of the bank under AS 06.01.030(a) of the problems identified by the department and issue an order to the board under AS 06.01.030(b) to correct the problems. The notice must also specify that failure to comply with the order may result in the department taking possession of the bank. (c) If a bank fails to comply with an order issued under (b) of this section, the department may take possession of the bank by posting upon the bank premises a notice stating that the department is assuming possession under this chapter. Department possession begins when the notice is posted. The notice shall also be filed in the superior court of the judicial district in which the bank is located. The department shall notify the local federal reserve bank if the bank is a member of the Federal Reserve System. (d) Notwithstanding the provisions of this section and AS 06.01.030, if, in the opinion of the department, an emergency exists that will result in serious losses to the depositors, the department may take possession of a bank without prior hearing. Within two days after the department takes possession under this subsection, an interested party may file with the department an application for an order vacating the possession. The department shall grant the application if the department finds that the department's action was not authorized under this chapter.
AK Stat § 06.05.471 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 6. Dissolution, Reorganization, Liquidation, and Department Possession.|Sec. 06.05.471. Reorganization.

(a) If the department decides to reorganize a state bank, the department, after according a hearing to all interested parties, shall enter an order proposing a reorganization plan. The department shall send a copy of the plan to each depositor and creditor who will not receive payment of a claim in full under the plan, and a notice that, unless within 30 days the plan is disapproved in writing by persons holding one-third or more of the aggregate amount of the claims, the department will reorganize the bank. (b) A plan of reorganization may not be prescribed under this chapter unless, in the opinion of the department, (1) the plan is fair to all classes of depositors, creditors, and shareholders; (2) subject to a fair adjustment for new capital that a class will pay under the plan, the face amount of the interest accorded to a class of depositors, creditors, or shareholders under the plan does not exceed the value of the assets at liquidation less the full amount of the claims of all prior classes; (3) the plan provides for the issuance of common stock in an amount that will provide an adequate ratio to deposits; (4) any exchange of new common stock for obligations or stock of the bank will be made (A) in the inverse order of the priorities in liquidation of the classes that will retain an interest in the bank; and (B) upon terms that adjust in a fair manner any change in the relative interest of the respective classes that will be produced by the exchange; (5) the plan assures the removal of a director, officer, or employee responsible for a problem identified by the department under AS 06.05.468(a) - (b), including an unsafe, unsound, or unlawful action or the existence of an unsafe or unsound condition; (6) any merger or consolidation provided by the plan complies with this chapter. (c) When in the course of reorganization, supervening conditions render a plan of reorganization unfair or its execution impractical, the department may modify the plan or liquidate the bank.
AK Stat § 06.05.472 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 6. Dissolution, Reorganization, Liquidation, and Department Possession.|Sec. 06.05.472. Liquidation.

(a) In liquidating a state bank, the department may exercise any power incidental to liquidating a bank, but it may not, without the approval of the superior court, (1) sell an asset of the bank having an appraised value in excess of $100,000; (2) compromise or release a claim that exceeds $100,000, exclusive of interest; (3) make full payment on a claim, other than a claim upon an obligation incurred by the department, before preparing and filing a schedule of the department's determinations under AS 06.05.473(d)(3). (b) Within six months after beginning the liquidation of a bank, the department may terminate an executory contract for services or advertising to which the bank is a party or an obligation of the bank as a lessee. A lessor who receives 60 days' notice of the department's decision to terminate a lease does not have a claim for rent, other than rent accrued to the date of termination, or for damages due to the termination. (c) As soon as practical after beginning the involuntary liquidation of a bank, the department shall take the steps necessary to terminate all fiduciary positions held by the bank, to surrender all property held by the bank as a fiduciary, and to settle the fiduciary accounts of the bank.
AK Stat § 06.05.474 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 6. Dissolution, Reorganization, Liquidation, and Department Possession.|Sec. 06.05.474. Federal Deposit Insurance Corporation as receiver or liquidator.

The department may appoint the Federal Deposit Insurance Corporation as receiver for a state bank that the department has taken possession of, if the deposits of the bank are insured by that corporation. Upon filing with the court a certificate indicating the acceptance of the appointment by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business, and property of the bank are transferred to that corporation. The department is then relieved of all responsibility and liability with respect to the reorganization or liquidation of the bank. The Federal Deposit Insurance Corporation may liquidate, reorganize, merge, or consolidate the bank in the manner permitted by the laws of the United States or by this chapter, and possesses all the rights, powers, duties, and obligations of the department in the liquidation, reorganization, merger, or consolidation of the bank under this chapter.
AK Stat § 06.05.548 (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. 06.05.548. Concentration of deposits.

(a) Unless expressly otherwise allowed under this title, an acquisition, a merger, or an ownership transaction is not permitted between a depository institution in this state and a depository institution in another state, if upon consummation of the acquisition, merger, or transaction the resulting depository institution, whether organized under state or federal law, controls 50 or more percent of the total amount of the deposits held by all depository institutions in this state. (b) The department may by regulation adopt a procedure that allows the department to waive the restriction in (a) of this section if the department finds that the purposes of this title will be fulfilled and the acquisition, merger, or transaction is in the public interest.