The aggregate amount of outstanding liabilities of a mutual bank for money borrowed may not at any time exceed 15 percent of the total assets of the mutual bank unless the department approves a larger percentage of the total assets of the mutual bank.
AS 06.15.180
Borrowing
Known as the Mutual Savings Bank Act
The act spans §§ 6–6 (35 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.