Alaska § 37.23.030 - Collateralization.
Full text of Alaska Alaska Statutes § 37.23.030 — Collateralization., with citation guidance and answers to common questions.
§ 37.23.030. Collateralization.
Investment in certificates of deposit under AS 37.23.020 (6) and the entire amount of principal and interest payable upon maturity of the certificates must be collateralized by a combination of securities that are marked to market at least monthly and have maturity dates that do not exceed five years. Only the following securities may serve as collateral: (1) obligations of the United States with a maturity date of five years or less after the date of the pool's investment transaction, and with a market value of at least 102 percent;
(2) securities in United States agencies or instrumentalities that are actively traded, other than mortgage pass-through securities, with a maturity date of (A) one year or less after the date of the pool's investment transaction, and with a market value of at least 103 percent;
(B) more than one year and less than five years after the date of the pool's investment transaction, and with a market value of at least 107 percent;
(3) mortgage pass-through securities issued by the Government National Mortgage Association with a market value of at least 120 percent;
(4) obligations of the state or its political subdivisions secured by the full faith, credit, and taxing power of the state or its political subdivisions, rated A or higher by at least one of the nationally recognized rating services, with a maturity date of (A) one year or less after the date of the pool's investment transaction, and with a market value of at least 102 percent;
(B) more than one and less than five years after the date of the pool's investment transaction, and with a market value of at least 107 percent.
Frequently Asked Questions About Alaska § 37.23.030
What does Alaska Statutes § 37.23.030 cover?
Section 37.23.030 ("Collateralization.") 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 § 37.23.030?
A common citation format is "Alaska Statutes § 37.23.030" (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 § 37.23.030 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.