(a) A state bank may purchase or establish, and operate, one or more subsidiaries engaged in any of the following activities, if the subsidiary has the necessary licenses and permits and the operation is not detrimental to the bank's business:
(1) real property ownership, development, and leasing;
(2) securities brokerage;
(3) other activities authorized in regulations adopted under this section; or
(4) other activities approved by the department.
(b) Under this section, a state bank's total investment in its subsidiaries may not exceed that which is permissible for a federally chartered bank's total investment in all subsidiaries as set out in 12 U.S.C. 24a, as amended. Loans to subsidiaries are considered investments subject to the limitations of this subsection.
(c) A subsidiary of a state bank is subject to examination by the department as part of the examination of the bank under AS 06.01.015.
(d) [Repealed, Sec. 55 ch 75 SLA 2002].
Section: Previous 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 06.05.280 NextLast modified: November 15, 2016