Alaska § 06.05.275 - Trade and bank acceptances.
Full text of Alaska Alaska Statutes § 06.05.275 — Trade and bank acceptances., with citation guidance and answers to common questions.
§ 06.05.275. Trade and bank acceptances.
(a) [Repealed, § 102 ch 26 SLA 1993.] (b) A bank may discount, invest in, negotiate, and issue trade acceptances and bank acceptances if (1) the terms of the draft require presentation for payment within 180 days of issuance, exclusive of days of grace, and it is drawn to finance the purchase of goods with maturity and payment in accordance with the terms of the purchase agreement;
(2) the terms of the draft require presentation for payment within 180 days of issuance, exclusive of days of grace, and it is secured by shipping documents transferring or securing title to goods, or by receipt of a licensed or bonded warehouse securing title to readily marketable goods; or
(3) the draft is drawn by a bank outside the continental limits of the United States for the purpose of furnishing dollar exchange for trade and its terms require presentation for payment within 90 days of issuance.
(c) [Repealed, § 102 ch 26 SLA 1993.]
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 06.05.275
What does Alaska Statutes § 06.05.275 cover?
Section 06.05.275 ("Trade and bank acceptances.") 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 § 06.05.275?
A common citation format is "Alaska Statutes § 06.05.275" (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 § 06.05.275 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.