A mutual bank may not deposit any of its funds except with a depositary approved by vote of a majority of all the trustees, exclusive of any trustee who is an officer, partner, director or trustee of the depositary.
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.