Section 06.01.020. Department authority to add financial institution powers and limitations.

   (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.

Authorities

6.45.010

Notes

Implemented As

3 AAC 02.125
3 AAC 02.129
3 AAC 02.197
3 AAC 03.030
3 AAC 03.165
3 AAC 03.320
3 AAC 06.120

References

3 AAC 04.210
AS 6.45.010 .010">Sec. 06.45.010. Responsibility of commissioner.

History

(Sec. 42 ch 169 SLA 1978; am Sec. 1 ch 47 SLA 1980; am Sec. 1 ch 63 SLA 1981; am Sec. 4 ch 26 SLA 1993; am Sec. 3 ch 75 SLA 2002; am Sec. 1 ch 116 SLA 2004)