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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 5. Alaska Banking Code
- Section 255. Borrowing.
previous: Section 250
. Limitation On Cost of Banking Premises. [Repealed, Sec. 10 Ch 63 SLA 1969].
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. Pledge, Assignment, and Transfer of Assets.
AS 06.05.255. Borrowing.
- (a) The aggregate amount of outstanding liabilities of a state bank for money borrowed exclusive of (1) capital notes and
debentures issued under AS 06.05.307
, (2) obligations incurred in connection with the purchase of bank premises under AS 06.05.230
(1), and (3) agreements to repurchase securities, earlier sold by the bank, at the end of a stated period, may not at
any time exceed 15 percent of the bank's total assets, or a larger amount if approved by the department.
- (b) Nothing in this section prevents a bank from rediscounting in good faith and endorsing any of its negotiable notes.
- (c) [Repealed, Sec. 102 ch 26 SLA 1993].
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