Alaska § 06.05.210 - Loans to directors, officers, and employees.
Full text of Alaska Alaska Statutes § 06.05.210 — Loans to directors, officers, and employees., with citation guidance and answers to common questions.
§ 06.05.210. Loans to directors, officers, and employees.
(a) Subject to the same terms and conditions applicable to other loans and to applicable federal law, a director or executive officer of a state bank may borrow up to $500,000 from the state bank at the discretion of the chief executive or managing officer of the state bank. A loan to a director or executive officer that makes the total amount owed to the state bank by the director or executive officer in excess of the limit in this subsection, or loans of any amount to the chief executive or managing officer of the state bank, shall have the prior approval of the board of directors and shall be reported to the department within 30 days.
(b) [Repealed, § 102 ch 26 SLA 1993.] (c) Notwithstanding (a) of this section, loans to directors, executive officers, and other officers and employees of a state bank are subject to the lending limits imposed by AS 06.05.205 and the regulations adopted under that section.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 06.05.210
What does Alaska Statutes § 06.05.210 cover?
Section 06.05.210 ("Loans to directors, officers, and employees.") 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 § 06.05.210?
A common citation format is "Alaska Statutes § 06.05.210" (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 § 06.05.210 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.