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Alaska Statutes.
Title 6. Banks and Financial Institutions
Chapter 5. Alaska Banking Code
Section 237. Financial Holding Companies.
previous: Section 235. Bank Holding Companies.
next: Section 238. Required Directors' Meetings and Statements to the Department. [Repealed, Sec. 102 Ch 26 SLA 1993].

AS 06.05.237. Financial Holding Companies.

Notwithstanding the provisions of AS 06.05.235 and regulations adopted under that section, a holding company formed under this title may apply to the Federal Reserve System for status as a financial holding company. If the status is granted, the financial holding company has powers as a financial holding company authorized by the Federal Reserve System if

(1) at the time of application, the holding company provides the department with a complete copy of the application;

(2) the holding company provides the department with copies of all correspondence concerning the application;

(3) the holding company provides the department with a copy of the approval by the Federal Reserve System within 10 days after the holding company receives the approval; and

(4) the department does not issue a letter denying financial holding company status within 30 days after the approval by the Federal Reserve System.


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Last modified 9/3/2005