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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 26. Revised Alaska Trust Company Act
- Section 80. Amendment of Articles or Bylaws.
previous: Section 70
next: Section 85
. Certificate of Authority Required.
AS 06.26.080. Amendment of Articles or Bylaws.
- (a) A trust company may amend its articles of incorporation or bylaws in a manner consistent with its articles, its
bylaws, AS 10.06, and this chapter by a vote of its shareholders
representing at least a majority of the capital at a regular meeting or at a special meeting called for that purpose.
The trust company shall file a written notice of an amendment with the department.
- (b) The department has 60 days from the date that the department receives a notice under (a) of this section to review the
amendment, and the amendment becomes effective on the 61st day after the department receives the notice unless the
department specifies a different date. The department may extend the 60-day period of review if the department
determines that the notice raises significant issues that require additional information or if the department needs
additional time for analysis. If the 60-day period of review is extended, the amendment becomes effective only when the
department approves the amendment in writing.
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