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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 5. Alaska Banking Code
- Section 462. Conversions, Mergers, and Consolidations.
previous: Section 460
. Report Upon Inactive Deposit Accounts. [Repealed, Sec. 14 Ch 133 SLA 1986].
next: Section 463
. [Renumbered as AS 06.05.120
AS 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
- (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.
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