Section 06.05.340. Certain remuneration prohibited.

Latest version.

A bank may not pay directly or indirectly a fee, commission, or bonus of any kind for its promotion and organization or for securing a subscription to the original capital or to any increase in capital. However, this section does not prohibit the payment of reasonable compensation for legal, accounting, and econometric services, or payments to a securities broker-dealer registered under AS 45.55 for services that have been performed in connection with the sale of bank securities.

Notes

Recent Bills that will modify this

HB 194 AK SECURITIES ACT; PENALTIES; CRT. RULES
SB 108 AK SECURITIES ACT; PENALTIES; CRT. RULES

History

(Sec. 3.209 ch 129 SLA 1951; am Sec. 1 ch 125 SLA 1966; am Sec. 24 ch 169 SLA 1978)

                    
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