(a) Certificate of
Charter. No bank or proposed bank may conduct the business of a mutual savings
bank unless a Certificate of Charter has been issued by the department and the
certificate is prominently and publicly displayed in the lobby or equivalent
business area.
(b) Notice of
Intent. The corporators of a proposed bank shall submit to the division a
written notice of intent to organize a bank, which
(1) is signed originally by at least five of
the corporators;
(2) contains the
proposed name to be reserved for the proposed bank;
(3) indicates the city or otherwise specifies
the proposed location of the proposed bank;
(4) indicates the residence address, mailing
address, occupation, and amount of deposits subscribed by each corporator;
and
(5) indicates the individual
elected by the corporators who will accept notice from the department on behalf
of all corporators.
(c)
Application for a Certificate of Charter. The following information and fee
must be submitted to the division in support of an application for a
certificate of charter:
(1) a completed FDIC
new bank application which may be obtained directly from FDIC;
(2) a copy of the proposed charter and
articles of incorporation of the bank executed in triplicate with all copies
bearing original signatures;
(3) a
copy of the proposed bylaws;
(4) a
check or money order for $1,000 made payable to the State of Alaska as a
partial prepayment of investigation expenses incurred by the department in
accordance with
AS
06.01.010;
(5) an economic analysis to support the need
and feasibility of the proposed bank; and
(6) any additional information requested by
the department.
(d)
Issuance of Certificate of Charter. If the department finds the provisions of
(c) of this section have been complied with by the corporators and insurance of
accounts has been obtained through FDIC, a certificate will be issued, if the
corporators submit the following information:
(1) statements as to whether the proposed
bank will own or lease the property within which it will conduct its business
and, if leased, a fully executed copy of all lease documents, which must
contain a bankruptcy clause;
(2) a
statement as to whether or not the proposed bank plans to finance any
improvements to the property, and, if it intends to lease, 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's facilities and
equipment, who will pay the premium, and, if to be paid by the proposed bank,
the amount of the premium;
(4) the
total investment in proposed bank premises and equipment to be reflected on the
books of the proposed bank;
(5) the
proposed itemized book value of 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 to be reflected on the books of the proposed
bank;
(6) 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;
(7) an organization chart of the proposed
bank showing the line of authority to be used by the proposed bank in providing
its services; and
(8) additional
information as requested by the department.
