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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 15. Mutual Savings Bank Act
- Section 40. Qualification of Corporators.
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. Issuance of Charter.
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AS 06.15.040. Qualification of Corporators.
- (a) Each corporator shall be an individual, not of unsound mind or capacity, whom the department finds to be of financial
responsibility and good character. Without in any way limiting, by enactment of this section, the general regulatory
power granted the department by this or any other act, the department may regulate the activities of corporators and
prescribe standards of conduct for corporators in their dealings with their mutual bank.
- (b) At least a majority of the corporators shall be residents of this state.
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