Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 02 - Banking
Article 3 - Organization and Corporate Functions of Banks
3 AAC 02.210 - Application for a certificate of authority
Universal Citation: 3 AK Admin Code 02.210
Current through February 24, 2025
(a) Repealed 1/10/94.
(b) Repealed 1/10/94.
(c) Repealed 1/10/94.
(d) Repealed 1/10/94.
(e) Repealed 1/10/94.
(f) Application for Certificate of Authority. After receiving a certificate of incorporation under 3 AAC 02.209, the following information must be submitted to the department in support of an application for a certificate of authority:
(1) a
statement whether the proposed bank will operate on owned or leased property
and, if leased, a copy of all proposed lease documents which must contain a
bankruptcy clause;
(2) a statement
whether the proposed bank plans to finance any improvements to the property,
and whether the property is leased, whether the proposed lessor will be a
borrowing customer of the proposed bank;
(3) the amount of fire and liability
insurance coverage to be carried for the proposed bank facility and equipment,
who will pay the premium for the insurance coverage, and, if to be paid by the
proposed bank, the amount of payment, and the annual premium for the coverage
at the time of the application;
(4)
the total investment in the proposed bank premises and equipment to be
reflected on the books of the proposed bank, including the proposed bank's
investment in land, building, leasehold improvements, furniture, fixtures and
equipment, investment in other assets indirectly representing bank premises,
and any proposed amount and method of depreciation;
(5) the amount and type of the proposed
bank's fidelity bond and any excess coverage bond to be in force at the time of
opening of the proposed bank;
(6)
an organization chart of the proposed bank showing the line of authority to be
used by the proposed bank in providing its services;
(7) copies, certified by the chief executive
officer of the proposed bank, of all documents and information required by
AS
06.05.350(b);
(8) the total proposed investment in each
proposed bank subsidiary; and
(9)
additional information requested by the department.
Authority:AS 06.05.005(a)
AS 06.05.230
AS 06.05.350
AS 06.05.385
Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
