Alaska § 06.05.255 - Borrowing.
Full text of Alaska Alaska Statutes § 06.05.255 — Borrowing., with citation guidance and answers to common questions.
§ 06.05.255. Borrowing.
(a) The aggregate amount of outstanding liabilities of a state bank for money borrowed exclusive of (1) capital notes and debentures issued under AS 06.05.307 , (2) obligations incurred in connection with the purchase of bank premises under AS 06.05.230 (1), and (3) agreements to repurchase securities, earlier sold by the bank, at the end of a stated period, may not at any time exceed 15 percent of the bank's total assets, or a larger amount if approved by the department.
(b) Nothing in this section prevents a bank from rediscounting in good faith and endorsing any of its negotiable notes.
(c) [Repealed, § 102 ch 26 SLA 1993.]
Frequently Asked Questions About Alaska § 06.05.255
What does Alaska Statutes § 06.05.255 cover?
Section 06.05.255 ("Borrowing.") 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 § 06.05.255?
A common citation format is "Alaska Statutes § 06.05.255" (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 § 06.05.255 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.