The directors of a bank transacting business in the state may declare a dividend out of the net profits, subject to any restrictions under AS 06.05.307(c) and after complying with AS 06.05.441 — 06.05.445.
AS 06.05.440
Authority to declare dividends
Known as the Alaska Banking Code
The act spans §§ 6–6 (113 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.