Terms Used In Alaska Statutes > Title 4 > Chapter 16 > Article 1 - Prohibited Acts

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• automated teller machine: means a staffed or unstaffed electronic device or terminal that permits a bank customer to accomplish various financial transactions, including depositing or withdrawing funds, making loans, and transferring funds between accounts, and includes a similar device or facility known or referred to by another name or designation, including customer-bank communication terminal, electronic fund transfer device, or 24-hour teller, but does not include a machine that is operated by more than one bank. See Alaska Statutes 06.05.990
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• bank: means a person doing a banking business, including persons subject to the law of this or another jurisdiction. See Alaska Statutes 06.05.990
• banking: means performing activities that
  (A) include, at a minimum, soliciting, receiving, or accepting money or its equivalent on deposit, whether the deposit is made subject to a check or is evidenced by a certificate of deposit, passbook, note, receipt, or other writing. See Alaska Statutes 06.05.990
• banking: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• board: means board of directors. See Alaska Statutes 06.26.990
• branch bank: includes an office, agency, or other place of business located in the state and at which deposits are received, checks are paid, or money is lent, but does not include the principal office of a bank or a remote service unit. See Alaska Statutes 06.05.990
• capital: means the amount of outstanding common stock plus outstanding and perpetual preferred stock. See Alaska Statutes 06.05.990
• capital accounts: includes capital, surplus, undivided profits, and capital notes and debentures not maturing within one year from the date of the loan. See Alaska Statutes 06.05.990
• certificate of authority: means the certificate of authority issued to a corporation under Alaska Stat. See Alaska Statutes 06.26.990
• chapter: includes regulations adopted under this chapter. See Alaska Statutes 06.26.990
• commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.01.050
• commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.05.990
• commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.20.900
• community: means a city, town, unincorporated village, or, in the absence of one of the foregoing, a trade area. See Alaska Statutes 06.05.990
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• control: means owning, or holding with the power to vote, 25 percent or more of the voting securities or other capital stock. See Alaska Statutes 06.26.990
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.01.050
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.05.990
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.20.900
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.26.990
• depository: means a person authorized by state or federal law to accept deposits of trust assets. See Alaska Statutes 06.26.990
• depository institution: means a financial institution whose deposits are insured by an agency of the federal government. See Alaska Statutes 06.05.990
• Devise: To gift property by will.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• domestic bank holding company: means a corporation that maintains its principal office and place of business in the state and that has control over a bank or another domestic bank holding company in one of the following ways:
  (A) the corporation directly or indirectly or acting through one or more other persons owns, controls, or has power to vote 25 percent or more of a class of voting securities of the bank or holding company. See Alaska Statutes 06.05.990
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• exempt private trust company: means a private trust company that has received an exemption under Alaska Stat. See Alaska Statutes 06.26.990
• extension of credit: means a negotiable instrument, and includes promissory notes, acknowledgments of advance, due bills, invoices, overdrafts, acceptances, and similar written or oral obligations or evidence of debt whether secured or unsecured. See Alaska Statutes 06.05.990
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• family member: means an individual who is related, including relation established by adoption, within the fourth degree by blood or marriage, to the individual whom the relationship is measured. See Alaska Statutes 06.26.990
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• fiduciary: means a trustee, agent, executor, administrator, committee, guardian or conservator for a minor or other incompetent person, a receiver, a trustee in bankruptcy, an assignee for creditors, or the holder of a similar position of trust. See Alaska Statutes 06.05.990
• fiduciary: means a person to whom the property of another person is entrusted for a purpose specified in a trust instrument or by a court order. See Alaska Statutes 06.26.990
• fiduciary services: means services of a fiduciary. See Alaska Statutes 06.26.990
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• financial holding company: means an existing, or newly formed, domestic bank holding company that has been approved as a financial holding company by the Federal Reserve System and not denied that status by the department under Alaska Stat. See Alaska Statutes 06.05.990
• financial institution: means an institution subject to the regulation of the department under this title. See Alaska Statutes 06.01.050
• financial institution: includes institutions from outside the state that are not subject to the regulation of the department under this title. See Alaska Statutes 06.05.990
• financial institution: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• good faith: means honesty in fact in the transaction and a reasonable ground for belief that the transaction is lawful, proper, or authorized. See Alaska Statutes 06.05.990
• governmental regulator: means a governmental agency responsible for regulating persons who act as fiduciaries. See Alaska Statutes 06.26.990
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• impairment of capital: means that the value of the bank's assets is less than the bank's liabilities plus 120 percent of the amount of the bank's paid-in capital. See Alaska Statutes 06.05.990
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insolvent: means
  (A) bank assets having a value less than the bank's liabilities, other than liability on account of capital stock, capital notes, and debentures. See Alaska Statutes 06.05.990
• 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
• institution: includes a commercial bank, savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, and savings and loan association. See Alaska Statutes 06.05.990
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• international bank: means a corporation, partnership, or association that is organized and operates under the laws of a country other than the United States and that is authorized by its license or charter to carry on a banking business. See Alaska Statutes 06.05.990
• international trust company: means an organization that provides fiduciary services and has offices in countries other than the country in which the home office of the entity is located. See Alaska Statutes 06.26.990
• interstate national bank: means a national bank whose principal office, as designated in its articles of incorporation, is not located in this state. See Alaska Statutes 06.05.990
• interstate state bank: means a person organized under the laws of another state and holding a charter, license, or certificate of authority from another state to engage in a banking business. See Alaska Statutes 06.05.990
• interstate state trust company: means an organization that
  (A) provides fiduciary services. See Alaska Statutes 06.26.990
• Intestate: Dying without leaving a will.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• loan: includes an extension of credit resulting from direct or indirect negotiations between a lender and a debtor. See Alaska Statutes 06.05.990
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
• national bank: means a bank chartered by the United States. See Alaska Statutes 06.05.990
• national bank: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• negotiable instrument: has the meaning given in Alaska Stat. See Alaska Statutes 06.05.990
• nighttime: means the period between sunset and sunrise. See Alaska Statutes 01.10.060
• oath: includes affirmation or declaration. See Alaska Statutes 01.10.060
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• offer fiduciary services to the general public: means to advertise fiduciary services, solicit fiduciary services work, or market fiduciary services in any medium, including an electronic medium, regardless of whether a fee, commission, or any other type of remuneration is charged or received. See Alaska Statutes 06.26.990
• open-end loan: means a loan made by a licensee under this chapter under an agreement between the licensee and a borrower which provides that
  (A) the borrower may obtain advances of money from the licensee from time to time or the licensee may advance money on behalf of the borrower from time to time as directed by the borrower. See Alaska Statutes 06.20.900
• out-of-state bank holding company: means a company that
  (A) is a bank holding company as defined in 12 U. See Alaska Statutes 06.05.990
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• peace officer: means
  (A) an officer of the state troopers. See Alaska Statutes 01.10.060
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• Personal property: All property that is not real property.
• personal property: includes money, goods, chattels, things in action, and evidences of debt. See Alaska Statutes 01.10.060
• personal representative: has the meaning given in Alaska Stat. See Alaska Statutes 06.26.990
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• private trust company: means a person who acts as a fiduciary, is not exempt under Alaska Stat. See Alaska Statutes 06.26.990
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• recently formed bank: means a state bank or national bank that conducts a banking business in the state and that commenced the banking business in the state on or after July 1, 1982, and that has not been in existence and continuously operating in the state for a period of three years or more. See Alaska Statutes 06.05.990
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• remote service unit: means an automated teller machine, automated loan machine, automated device for receiving deposits, personal computer, telephone, or similar automated or electronic device that allows a customer of a bank to contact the bank to make deposits, make withdrawals, or perform other banking functions and that may be equipped with a telephonic device, a video device, or both. See Alaska Statutes 06.05.990
• representative office: means an office that provides support services for a trust company, but at which the trust company does not provide fiduciary services. See Alaska Statutes 06.26.990
• resident of this state: means an individual who is physically present in Alaska and who intends to remain indefinitely in Alaska. See Alaska Statutes 06.26.990
• Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• state bank: means a bank organized under this chapter. See Alaska Statutes 06.05.990
• state financial institution: means a financial institution that is organized under this title or that is subject to examination by the department under this title. See Alaska Statutes 06.01.050
• state financial institution: means a financial institution that is organized under this title or that is subject to examination by the department under this title. See Alaska Statutes 06.05.990
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• subscription: includes the mark of a person who cannot write, with the name of that person written near the mark by a witness who writes the witness's own name near the name of the person who cannot write. See Alaska Statutes 01.10.060
• subsidiary: means a corporation in which a bank owns more than 50 percent of the voting power of the corporation either directly or indirectly through one or more other subsidiaries of the bank. See Alaska Statutes 06.05.990
• surplus: includes amounts paid in for stock in excess of the par value of the stock, which are generally called capital surplus or paid-in surplus, plus any amounts transferred to the account from undivided profits, which are generally called earned surplus. See Alaska Statutes 06.05.990
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• trust assets: means assets held in trust for another person. See Alaska Statutes 06.26.990
• trust company: means a person who is organized under this chapter to act as a fiduciary and to provide fiduciary services to the general public. See Alaska Statutes 06.26.990
• trust office: means an office that provides fiduciary services. See Alaska Statutes 06.26.990
• Trustee: A person or institution holding and administering property in trust.
• undivided profits: means the accumulated, undistributed net profit of a bank, including any residue after
  (A) provision for payment of taxes and expenses of operations. See Alaska Statutes 06.05.990
• writing: includes printing. See Alaska Statutes 01.10.060