A charter shall be issued if the department finds that a mutual bank will serve a useful purpose in the community in which it is proposed to be established, that there is reasonable expectation of its financial success, and that its operation will not unduly injure existing banking institutions.
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 15. Mutual Savings Bank Act
Article 1. Formation and Management of Mutual Banks.
Sec. 06.15.010. Declaration of policy.
Sec. 06.15.020. Chartering of mutual banks.
Sec. 06.15.030. Issuance of charter.
Sec. 06.15.040. Qualification of corporators.
Sec. 06.15.070. Terms of trustees.
Sec. 06.15.080. Management and control of mutual bank; bylaws.
Sec. 06.15.090. Failure to attend meetings.
Sec. 06.15.100. Prohibited conduct of trustees.
Sec. 06.15.105. Trustee borrowing.
Sec. 06.15.110. Trustee as officer or attorney.