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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) Notwithstanding other provisions of this title, the department may by order authorize state financial institutions, except licensees subject to AS 06.20, AS 06.40, or AS 06.50, to exercise any of the powers conferred upon, or to be subject to any of the limitations imposed upon, a federally chartered financial institution doing business in this state with deposits insured by an agency of the federal government if the department finds that the exercise of the power or imposition of the limitation both
(1) serves the public convenience and advantage; and
(2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
(b) The authority granted to the department by this section may not be limited by law unless that law expressly refers to this section.
Cite this article: FindLaw.com - Alaska Statutes Title 6. Banks and Financial Institutions § 06.01.020. Department authority to add financial institution powers and limitations - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-6-banks-and-financial-institutions/ak-st-sect-06-01-020/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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