Alaska Stat. § 06.01.020
This is the official text of Alaska Stat. § 06.01.020, part of Alaska’s Stat — part of the compiled statutory law of Alaska, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Department authority to add financial institution powers and limitations.
Official statutory text
(a) Notwithstanding other provisions of this title, the department may by order authorize state financial institutions, except licensees subject to AS 06.20 , AS 06.40 , or AS 06.50 , to exercise any of the powers conferred upon, or to be subject to any of the limitations imposed upon, a federally chartered financial institution doing business in this state with deposits insured by an agency of the federal government if the department finds that the exercise of the power or imposition of the limitation both (1) serves the public convenience and advantage; and
(2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
(b) The authority granted to the department by this section may not be limited by law unless that law expressly refers to this section.
(2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
(b) The authority granted to the department by this section may not be limited by law unless that law expressly refers to this section.
Status: in_force · Read it on the official government site
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