(a) Notwithstanding other provisions of this title, the department may by order authorize state financial institutions, except licensees subject to Alaska Stat. Chapter 06.20, Alaska Stat. Chapter 06.40, or Alaska Stat. Chapter 06.50, to exercise any of the powers conferred upon, or to be subject to any of the limitations imposed upon, a federally chartered financial institution doing business in this state with deposits insured by an agency of the federal government if the department finds that the exercise of the power or imposition of the limitation both

Terms Used In Alaska Statutes 06.01.020

  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.01.050
  • institution: includes a commercial bank, savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, savings and loan association, deferred deposit advance licensee under Alaska Stat. See Alaska Statutes 06.01.050
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(1) serves the public convenience and advantage; and
(2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
(b) The authority granted to the department by this section may not be limited by law unless that law expressly refers to this section.
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