Alaska § 06.15.350 - General powers.
Full text of Alaska Alaska Statutes § 06.15.350 — General powers., with citation guidance and answers to common questions.
§ 06.15.350. General powers.
A mutual bank (1) shall have indefinite succession;
(2) may adopt and use a seal;
(3) may sue and be sued;
(4) may adopt, amend, and repeal rules and regulations governing the manner in which its business may be conducted and the manner in which the powers vested in it may be exercised;
(5) may make and carry out contracts and agreements, provide benefits to its personnel, and take other action, as it considers necessary or desirable in the conduct of its business;
(6) may appoint and fix the compensation of officers, attorneys, and employees desirable for the conduct of its business, define their authority and duties, delegate to them the powers the trustees determine, require bonds of them as the trustees designate and fix their penalties and pay the premiums on the bonds;
(7) may acquire by purchase or lease real property or interest therein as the trustees consider necessary or desirable for the conduct of its business, and sell, lease, or otherwise dispose of real property or interest therein;
(8) may exercise the powers of a bank granted under AS 06.05 (Alaska Banking Code); and
(9) may convert from a mutual bank to a capital stock bank under a plan approved by the department.
Frequently Asked Questions About Alaska § 06.15.350
What does Alaska Statutes § 06.15.350 cover?
Section 06.15.350 ("General powers.") 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 § 06.15.350?
A common citation format is "Alaska Statutes § 06.15.350" (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 § 06.15.350 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.