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.
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 05. Alaska Banking Code
Article 5. Conduct of Corporate Affairs.
Sec. 06.05.438. Directors, meetings, and duties.
Sec. 06.05.440. Authority to declare dividends.
Sec. 06.05.441. Conditions precedent to dividend declaration and payment.
Sec. 06.05.442. Excess losses; restoration of surplus; payment of dividends.
Sec. 06.05.445. Net undivided profits and dividends.