Section 06.15.100. Prohibited conduct of trustees.

Latest version.

A trustee may not
        (1) receive remuneration as trustee except reasonable fees for attendance at meetings of trustees or for services as a member of a committee of trustees;
        (2) use the position as trustee, or knowingly allow it to be used, to obtain preferential terms in dealings with the mutual bank for which the person is trustee;
        (3) use the position as trustee, or knowingly allow it to be used, to induce an actual or prospective borrower from the mutual bank for which the person is trustee to purchase goods or services at a direct or indirect profit to the trustee.

Authorities

6.15.110; 6.15.120

Notes

References

AS 6.15.110 .110">Sec. 06.15.110. Trustee as officer or attorney.
AS 6.15.120 .120">Sec. 06.15.120. Exceptions.

History

(Sec. 6 d ch 132 SLA 1960; am Sec. 1 ch 89 SLA 1965; am Sec. 47 ch 75 SLA 2002)

                    
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