Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 02 - Banking
Article 2 - Banking Practices
3 AAC 02.155 - Extension of credit by a bank to the bank's holding company or subsidiaries of the holding company
Current through February 24, 2025
A subsidiary bank may not extend credit, secured or unsecured, in excess of the bank's legal lending limit to the bank's holding company or any of the holding company's subsidiaries. In this section, to extend credit includes:
(1) loans;
(2) the purchase of securities or other assets under a repurchase agreement;
(3) the discount of promissory notes, bills of exchange, conditional sales contracts, or other similar paper; and
(4) advances made against collateral security in the form of capital stock, bonds, debentures, or other obligations of the domestic bank holding company or its subsidiaries.
Authority:AS 06.05.005(a)
AS 06.05.205(b)
AS 06.05.235
AS 06.05.570
