(a) A national bank located in the state may convert to a state bank or merge or consolidate with a state bank, and a state bank may merge or consolidate with another state bank, if the merger or consolidation is consistent with federal and state law and approved by the department.
(b) Before merger or consolidation under (a) of this section, banks shall file with the department an application and other information and reports that the department requires.
(c) The department, in the exercise of its power to approve or disapprove applications for merger or consolidation, shall act in the interests of promoting and maintaining a sound banking system, the security of deposits and customers, the preservation of the liquid position of banks, and in the interest of preventing injurious credit expansions and contractions.
(d) A state bank converting to or merging or consolidating with a national bank shall submit a copy of the application for national charter or application to convert, merge, or consolidate to the department at the time those documents are forwarded to the comptroller of the currency.
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.