Alaska Statutes.
Title 10. Corporations and Associations
Chapter 10. Business and Industrial Development Corporation Act
Section 140. Designation of Depository; Prohibition Against Receiving Deposits.
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AS 10.10.140. Designation of Depository; Prohibition Against Receiving Deposits.

The corporation may not deposit any of its funds in a banking institution unless the institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of a director who is an officer or director of the depository. The corporation may not receive money on deposit.

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