Section 06.05.270. Investments and customer securities.

Latest version.

   (a) In addition to loans and acquisitions expressly authorized by this chapter, a state bank may deal in, underwrite, and invest in for its own account the obligations that the department by regulation authorizes the bank to deal in, underwrite, or invest in for its own account.
   (b)   [Repealed, Sec. 102 ch 26 SLA 1993]. 
   (c) A state bank may purchase or sell, without recourse, any security upon the order of a customer and for the customer's account.

Notes

Implemented As

3 AAC 02.205

History

(Sec. 1 ch 205 SLA 1968; am Sec. 5, 6 ch 56 SLA 1971; am Sec. 19 ch 169 SLA 1978; am Sec. 2 ch 7 SLA 1988; am Sec. 1 ch 166 SLA 1990; am Sec. 3, 4 ch 133 SLA 1992; am Sec. 46, 102 ch 26 SLA 1993)

                    
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