Section 06.10.020. Authorized activities.

   (a) The activities referred to in AS 06.10.010 are
        (1) making loans;
        (2) receiving security for loans;
        (3) acquiring by assignment or otherwise partial or entire interests in loans or in security for loans;
        (4) servicing, collecting, enforcing or otherwise realizing upon loans or upon security for loans or upon interests therein, and holding, managing or disposing of proceeds therefrom; and
        (5) entering into and performing contracts and doing other acts necessary or appropriate for or preliminary or incident to any of the foregoing activities.
   (b) Loans within the meaning of this section may be
        (1) evidenced by negotiable instruments or otherwise; and
        (2) unsecured or secured by a lien upon or a pledge of real or personal property or both inside or outside this state.

Authorities

6.10.010; 6.10.030

Notes

References

AS 6.10.010 .010">Sec. 06.10.010. Exemption of foreign banks from laws and taxation.
AS 6.10.030 .030">Sec. 06.10.030. Filing statement.

History

(Sec. 3 ch 113 SLA 1960)