Section 06.05.245. Disposition of property not needed in the conduct of a banking business.

Latest version.

All investments in real and personal property, regardless of how acquired, not permitted under AS 06.05.230 that come into the possession of a state bank shall be disposed of as soon as possible. If the real or personal property is not sold within the time limit set by the department in regulations, it shall be written off and may not be carried as an asset of the state bank.

Notes

Implemented As

3 AAC 02.135

History

(Sec. 3.169 ch 129 SLA 1951; am Sec. 42 ch 26 SLA 1993; am Sec. 17 ch 75 SLA 2002)

                    
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