The aggregate amount of outstanding liabilities of a mutual bank for money borrowed may not at any time exceed 15 percent of the total assets of the mutual bank unless the department approves a larger percentage of the total assets of the mutual bank.
A mutual bank may accept deposits to be held solely and absolutely in its own right by or in trust or other fiduciary capacity for any person, including an adult or minor individual, male or female, single or married, a partnership, nonprofit organization, association, fiduciary, corporation, or political subdivision or public or governmental unit. The […]
A mutual bank may (1) reject any sums offered for deposit; (2) repay any deposit at any time; and (3) classify and differentiate among deposits on any bases that it may determine.
A mutual bank may pay interest on deposits from net earnings and undivided profits at the rates and intervals that its trustees or the persons to whom the trustees have delegated the trustees’ authority approve.
(a) In addition to loans and acquisitions expressly authorized by this chapter, a mutual bank may deal in, underwrite, and invest in for its own account the obligations that the department by regulation authorizes the bank to deal in, underwrite, or invest in for its own account. (b) If a mutual bank does not assume […]
Subject to the provisions of this chapter and the regulations adopted under this chapter, a mutual bank may invest in first mortgages in the same manner and with the same limitations as a bank organized under AS 06.05.
Subject to the provisions of this chapter and regulations under this chapter a mutual bank may invest in bankers’ acceptances that have been accepted by a bank, trust company, national bank, investment company, or banking corporation organized under the laws of the United States or of any state, which is a member of the Federal […]
(a) Subject to the provisions of this chapter and regulations under this chapter a mutual bank may invest in corporate securities, subject to the exercise of the same degree of care and prudence that persons prompted by self-interest generally exercise in their own affairs, and subject to the following limitations: (1) a mutual bank may […]
Subject to the provisions of this chapter and regulations under this chapter, a mutual bank may invest in a promissory note, subject to the following limitations: (1) a promissory note payable to the order of the mutual bank that is (A) secured by the assignment of one or more mortgages in which a mutual bank […]
