reglab/housing_qa huggingface dataset:
AK Stat § 06.05.260 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.260. Pledge, assignment, and transfer of assets.

(a) A bank may not give preference to a depositor or creditor by pledging any of the assets of a bank as collateral security except (1) to the state to secure state funds, or to a municipal corporation or other public corporation, municipal utility or municipal utility board, or political subdivision of the state to secure its funds, and to the United States as may be required to make the bank a depository for United States funds; (2) to secure a mortgage or deed of trust in connection with the purchase of banking premises as provided in AS 06.05.230, if the only property pledged is property purchased in the transaction; or (3) to a federal reserve bank or federal home loan bank in the manner required by the applicable laws, regulations, and rules of the federal reserve bank or federal home loan bank, as applicable. (b) [Repealed, § 102 ch 26 SLA 1993.]  (c) A pledge, assignment, or transfer of any of the assets of a bank in violation of this section is null and void against the creditors of the bank.
AK Stat § 06.05.262 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.262. Assumption of liability.

Except as expressly permitted in this chapter, a state bank may not assume liability as an insurer or as a guarantor or endorser of a security instrument or obligation unless the bank has a property interest in or with respect to the instrument or obligation. This section does not apply to warranty deeds issued by a bank.
AK Stat § 06.05.265 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.265. Liability of directors for certain loans.

A loan in violation of AS 06.05.200 - 06.05.260 makes the officers and directors of the bank jointly and severally liable to the bank for the loan.
AK Stat § 06.05.270 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.270. Investments and customer securities.

(a) In addition to loans and acquisitions expressly authorized by this chapter, a state bank may deal in, underwrite, and invest in for its own account the obligations that the department by regulation authorizes the bank to deal in, underwrite, or invest in for its own account. (b) [Repealed, § 102 ch 26 SLA 1993.]  (c) A state bank may purchase or sell, without recourse, any security upon the order of a customer and for the customer's account.
AK Stat § 06.05.272 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.272. Bank subsidiaries.

(a) A state bank may purchase or establish, and operate, one or more subsidiaries engaged in any of the following activities, if the subsidiary has the necessary licenses and permits and the operation is not detrimental to the bank's business: (1) real property ownership, development, and leasing; (2) securities brokerage; (3) other activities authorized in regulations adopted under this section; or (4) other activities approved by the department. (b) Under this section, a state bank's total investment in its subsidiaries may not exceed that which is permissible for a federally chartered bank's total investment in all subsidiaries as set out in 12 U.S.C. 24a, as amended. Loans to subsidiaries are considered investments subject to the limitations of this subsection. (c) A subsidiary of a state bank is subject to examination by the department as part of the examination of the bank under AS 06.01.015. (d) [Repealed, § 55 ch 75 SLA 2002.]
AK Stat § 06.05.275 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.275. Trade and bank acceptances.

(a) [Repealed, § 102 ch 26 SLA 1993.]  (b) A bank may discount, invest in, negotiate, and issue trade acceptances and bank acceptances if (1) the terms of the draft require presentation for payment within 180 days of issuance, exclusive of days of grace, and it is drawn to finance the purchase of goods with maturity and payment in accordance with the terms of the purchase agreement; (2) the terms of the draft require presentation for payment within 180 days of issuance, exclusive of days of grace, and it is secured by shipping documents transferring or securing title to goods, or by receipt of a licensed or bonded warehouse securing title to readily marketable goods; or (3) the draft is drawn by a bank outside the continental limits of the United States for the purpose of furnishing dollar exchange for trade and its terms require presentation for payment within 90 days of issuance. (c) [Repealed, § 102 ch 26 SLA 1993.]
AK Stat § 06.05.277 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.277. Providing services as agent.

(a) If a state bank complies with this section and if the department approves the provision of the services under this section, the state bank may agree to provide banking services as an agent for a depository institution. (b) A state bank that proposes to enter into an agency agreement under this section shall file with the department at least 60 days before the effective date of the agreement a request that the department approve the provision of the banking service. The request must include a (1) notice of intention to enter into an agency agreement with a depository institution; (2) description of the services proposed to be provided under the agency agreement; and (3) copy of the agency agreement (c) Except as provided by (d) of this section, the commissioner shall decide whether to approve a request submitted under (b) of this section and shall issue a decision within 60 days after receipt of the request. The department may ask for additional information after reviewing a request received under (b) of this section. If the department asks for additional information, the 60 days is calculated from the date the department receives the additional information. (d) When making its decision under (c) of this section, the department may consider the safety and soundness of the particular state bank and depository institution and whether providing the service is consistent with applicable federal and state law and with safe and sound banking practices. (e) Before approval under (c) or (f) of this section, the department shall give appropriate notice to the public of each request submitted to the department under (b) of this section. (f) If the department does not take action on a request submitted under (b) of this section within the time limit established in (c) of this section, the request is considered to have been approved by the department. (g) Notwithstanding the other provisions of this section, a state bank may not, under an agency agreement, provide by itself through an agent an activity that the state bank may not conduct under applicable state and federal law. (h) The department may order a state bank or another depository institution subject to this title to cease acting as an agent or principal under an agency agreement subject to this section if the department determines that the activity is inconsistent with safe and sound banking practices.
AK Stat § 06.05.280 (2021)
2021 Alaska Statutes|Title 6. Banks and Financial Institutions|Chapter 05. Alaska Banking Code|Article 3. Reserves, Loans, Investments, Bank Service Corporations, Practices, and Services.|Sec. 06.05.280. Fees connected with obtaining mortgage loans.

(a) [Repealed, § 102 ch 26 SLA 1993.]  (b) [Repealed, § 102 ch 26 SLA 1993.]  (c) A director, officer, or employee of a bank may not receive a fee or other compensation of any kind in connection with obtaining a mortgage loan from a bank, except for services actually rendered as provided in this chapter.
AK Stat § 06.05.301 (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. 06.05.301. Applicability of corporations code.

(a) Except for national banks with a principal place of business in the state, and interstate state banks and international banks with a certificate of authority under AS 06.05.555, a corporation may not engage in the banking business unless the corporation is organized under AS 10.06 (Alaska Corporations Code) and this title. (b) The provisions of AS 10.06 (Alaska Corporations Code) apply to state banks, except those provisions inconsistent with this chapter. The provisions inconsistent with this chapter include AS 10.06.010(4) - (8), 10.06.105(a) and (d), 10.06.325, 10.06.356, 10.06.358 - 10.06.360, 10.06.370, 10.06.385 - 10.06.388, 10.06.420(i), 10.06.430, 10.06.453, 10.06.460(b), 10.06.485, 10.06.522 - 10.06.868, 10.06.915, 10.06.960, and 10.06.990(30) and (38).
AK Stat § 06.05.305 (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. 06.05.305. Capital structure.

(a) A corporation may not commence and operate a banking business in the state in a community with a population of 35,000 or more unless the corporation has paid-in capital in an amount acceptable to the department, but not less than $2,000,000, and paid-in surplus equal to 20 percent of paid-in capital. A corporation may not commence and operate as a bank in the state in a community with a population less than 35,000 unless the corporation has paid-in capital in an amount acceptable to the department, but not less than $1,000,000, and paid-in surplus equal to 20 percent of paid-in capital. A bank may not operate any branches unless it has an aggregate paid-in capital and paid-in surplus in amounts acceptable to the department. (b) The capital of a state bank may not be reduced to an amount less than is required by the department for capital under (a) of this section. A reduction of capital or the liability of the shareholders is not valid until it is approved by the department. (c) If a state bank fails to maintain its total capital accounts and loan loss reserves in an amount equal to the assets classified as substandard by the Federal Deposit Insurance Corporation or by the state in the bank's latest report of examination, the department shall consider the failure as endangering the safety of depositors and may direct the bank's directors to increase the capital accounts in an amount sufficient to cover substandard assets.
AK Stat § 06.05.307 (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. 06.05.307. Capital notes or debentures.

(a) A bank organized under the laws of this state may, with the approval of stockholders owning two-thirds of the stock of the bank entitled to vote or without this approval if authorized by its articles of incorporation, issue convertible or nonconvertible capital notes or debentures with the written consent of the department. The principal amount of notes and debentures outstanding at any time may not exceed 33 1/3 percent of the capital stock and surplus fund of the bank at the date of issue. The rate and term are subject to the approval of the department but in no event may the term be more than 20 years after the date of issue. (b) A bank may not retire capital notes or debentures if the retirement creates an impairment of its capital. Capital notes and debentures are subordinated in right of payment in the event of insolvency or liquidation of the bank to the prior payment of all deposits and all claims of other creditors except the holders of securities on a parity with the capital notes and debentures and the holders of securities expressly subordinated to the capital notes and debentures. (c) Bank assets may not be pledged to secure capital notes and debentures, but the bank may, for the security and the protection of the holders of the capital notes and debentures, agree through its board of directors to restrict the payment of dividends. (d) [Repealed, § 102 ch 26 SLA 1993.]  (e) [Repealed, § 102 ch 26 SLA 1993.]
AK Stat § 06.05.310 (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. 06.05.310. Correction of impairment of capital.

If the department determines that the order is necessary for the protection of depositors, the department may issue an order under AS 06.01.030 to require a state bank to increase its capital accounts or to reduce its deposits. In making a decision whether to issue an order under this section, the department shall consider the (1) quality of management; (2) quality and liquidity of assets; (3) history of earnings and retention of earnings; (4) quality and character of ownership; (5) potential volatility of deposit structure; (6) quality and cost of bank operations; and (7) capacity to meet present and future needs of the area served, considering the bank's competition.
AK Stat § 06.05.320 (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. 06.05.320. Bank purchases of own shares.

Except in accordance with written approval of the department, a bank may not purchase its own capital stock.
AK Stat § 06.05.327 (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. 06.05.327. Change in outstanding voting shares.

Before a change may occur in the outstanding voting shares of a state bank that will result in a change in the control of the bank, or before any sales or transfers by or to a person, corporation or other legal entity of the aggregate of 10 percent or more of the voting shares of a state bank may be made, the transaction must be approved by the department.
AK Stat § 06.05.340 (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. 06.05.340. Certain remuneration prohibited.

A bank may not pay directly or indirectly a fee, commission, or bonus of any kind for its promotion and organization or for securing a subscription to the original capital or to any increase in capital. However, this section does not prohibit the payment of reasonable compensation for legal, accounting, and econometric services, or payments to a securities broker-dealer registered under AS 45.56 for services that have been performed in connection with the sale of bank securities.
AK Stat § 06.05.342 (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. 06.05.342. Subscriptions for shares.

(a) Subscription agreements and accompanying prospectuses or offering circulars, whether for a proposed state bank or for an increase in capital of an existing state bank, shall be submitted to the department for approval before their use. The department shall determine whether the subscription agreements or offering circulars provide full and accurate disclosure of the material terms of the offering. The department may order the incorporators not to accept any stock subscriptions or to cease accepting subscriptions if the department determines that the incorporators are not acting lawfully or in good faith. (b) In the case of a proposed state bank, the incorporators shall submit a list of subscribers, providing the name, residence address, and occupation of each subscriber and the number of shares for which the person has subscribed.
AK Stat § 06.05.345 (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. 06.05.345. Articles of incorporation.

(a) In addition to those items required under AS 10.06.208, the articles of incorporation of a state bank must specify (1) the judicial district in which the bank is to be located and the community where the bank is to conduct its principal place of business; (2) the amount of its capital stock, which shall be divided into shares having a par value of not less than $1 each; (3) that there will be at least five but no more than 25 directors; and (4) the period for which the bank is organized, if limited. (b) [Repealed, § 102 ch 26 SLA 1993.]  (c) [Repealed, § 102 ch 26 SLA 1993.]  (d) [Repealed, § 102 ch 26 SLA 1993.]  (e) [Repealed, § 102 ch 26 SLA 1993.]  (f) [Repealed, § 102 ch 26 SLA 1993.]  (g) [Repealed, § 102 ch 26 SLA 1993.]  (h) [Repealed, § 102 ch 26 SLA 1993.]  (i) [Repealed, § 102 ch 26 SLA 1993.]  (j) [Repealed, § 102 ch 26 SLA 1993.]  (k) [Repealed, § 102 ch 26 SLA 1993.]  (l) A bank may amend its articles of incorporation in a manner consistent with its articles and bylaws, AS 10.06, and this chapter by a vote of its shareholders representing at least a majority of the capital at a regular meeting or at a special meeting called for the purpose.
AK Stat § 06.05.350 (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. 06.05.350. Certificate of authority.

(a) At any time after receiving a certificate of incorporation, a bank may apply to the department for a certificate of authority to engage in the banking business. Before receiving a certificate of authority, a bank may not perform an act other than to perfect its organization, obtain and equip a place of business, obtain subscriptions and payment for its shares, and otherwise prepare to do business. If a bank violates this subsection by transacting business before it receives a certificate of authority, the directors and officers who wilfully authorized or participated in the action are personally, jointly, and severally liable for the debts and liabilities of the bank incurred before the certificate of authority is issued. (b) The department shall issue a certificate of authority to engage in the banking business to a proposed state bank if, upon review of the information required by this chapter, including the following, it approves the application: (1) certification by an officer by affidavit that the capital and surplus required by the department have been fully paid in cash; (2) a list of all shareholders, giving the name, address, and number of shares held by each; (3) bylaws of the corporation; (4) evidence satisfactory to the department that the bank has complied with all the requirements of this chapter and any conditions imposed by the department and has advised the department in writing of any changes that have occurred in the facts reflected in the material it filed under AS 06.05.344. (c) If the rights conferred by a certificate of authority are not exercised within one year from the date of its issuance, the certificate lapses. (d) Except as authorized under this section, a person may not (1) engage in the business of receiving deposits, discounting evidences of indebtedness, or receiving money for transmission; (2) represent that the person is a bank; or (3) use any form of the word “bank” in the person's name unless the person is a state bank formed under this title or a bank formed under the authority of another state or an agency of the federal government, or unless it is clear that the use does not represent that the person is a bank; the prohibition in this paragraph does not apply to a food bank, blood bank, or similar organization that cannot readily be confused with a bank. (e) A person prohibited by (d)(3) of this section from using any form of the word “bank” in its name may apply to the commissioner for authority to use a form of the word “bank” in its name.
AK Stat § 06.05.355 (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. 06.05.355. Deposit insurance required.

(a) The department may require a state bank, either at the time the bank applies for a certificate of authority or during the bank's existence, to become a member of the Federal Deposit Insurance Corporation. (b) A bank that is a member of the Federal Deposit Insurance Corporation may not voluntarily relinquish membership without the consent of the department. Request for the consent must be made at least 180 days before the proposed date of relinquishment. (c) Relinquishment of membership without giving notice and obtaining the department's consent, involuntary loss of membership, or failure to become a member after the department directs the bank to become a member constitutes cause for the department to take possession of the bank in the manner provided by this chapter.
AK Stat § 06.05.385 (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. 06.05.385. Organizational meeting; bylaws.

(a) A state bank may not call an organizational meeting under AS 10.06.223 until all capital and surplus have been fully paid. (b) Bylaws shall be adopted and may be amended by a vote of the holders of a majority of the outstanding voting shares voted at a meeting of the shareholders. If not provided in the articles of incorporation, the bylaws must indicate the organizational structure of the bank and specifically designate the offices that will be held by the executive or managing officers of the bank. The bank shall file with the department copies of the original bylaws of the bank and any amendments adopted for the bylaws.