Alaska § 06.05.355 - Deposit insurance required.
Full text of Alaska Alaska Statutes § 06.05.355 — Deposit insurance required., with citation guidance and answers to common questions.
§ 06.05.355. Deposit insurance required.
(a) The department shall require a state bank, at the time the bank applies for a certificate of authority under AS 06.05.350 , to become a member of the Federal Deposit Insurance Corporation.
(b) A bank that is a member of the Federal Deposit Insurance Corporation may not voluntarily relinquish membership without the consent of the department. Request for the consent must be made at least 180 days before the proposed date of relinquishment.
(c) Relinquishment of membership without giving notice and obtaining the department's consent, involuntary loss of membership, or failure to become a member after the department directs the bank to become a member constitutes cause for the department to take possession of the bank in the manner provided by this chapter.
Frequently Asked Questions About Alaska § 06.05.355
What does Alaska Statutes § 06.05.355 cover?
Section 06.05.355 ("Deposit insurance required.") 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 § 06.05.355?
A common citation format is "Alaska Statutes § 06.05.355" (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 § 06.05.355 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.