A state bank may take property of any kind to satisfy or protect a loan previously made in good faith and in the ordinary course of business. A bank may not take the capital stock of the bank or of the bank's parent holding companies unless it complies with AS 06.05.205(d). The property shall be entered on the books at cost, or fair market value, whichever is less. Property acquired to satisfy or protect previous loans shall be disposed of over periods of time as the department may prescribe by regulation.
Section: Previous 06.05.225 06.05.230 06.05.231 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 NextLast modified: November 15, 2016