(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(c) [Repealed, Sec. 102 ch 26 SLA 1993].
Section: Previous 06.05.232 06.05.235 06.05.237 06.05.238 06.05.240 06.05.245 06.05.250 06.05.255 06.05.260 06.05.262 06.05.265 06.05.270 06.05.272 06.05.275 06.05.277 NextLast modified: November 15, 2016