Alaska § 06.01.020 - Department authority to add financial institution powers and limitations.
Full text of Alaska Alaska Statutes § 06.01.020 — Department authority to add financial institution powers and limitations., with citation guidance and answers to common questions.
§ 06.01.020. Department authority to add financial institution powers and limitations.
(a) Notwithstanding other provisions of this title, the department may by order authorize state financial institutions, except licensees subject to AS 06.20 , AS 06.40 , or AS 06.50 , to exercise any of the powers conferred upon, or to be subject to any of the limitations imposed upon, a federally chartered financial institution doing business in this state with deposits insured by an agency of the federal government if the department finds that the exercise of the power or imposition of the limitation both (1) serves the public convenience and advantage; and
(2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
(b) The authority granted to the department by this section may not be limited by law unless that law expressly refers to this section.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 06.01.020
What does Alaska Statutes § 06.01.020 cover?
Section 06.01.020 ("Department authority to add financial institution powers and limitations.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 06.01.020?
A common citation format is "Alaska Statutes § 06.01.020" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 06.01.020 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.