There is a newer version of the Alaska Statutes
1996 Alaska Statutes
TITLE 10 CORPORATIONS AND ASSOCIATIONS
Chapter 10.10. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION ACT
Sec. 10.10.140. Designation of depository.
The corporation may not deposit any of its funds in a banking institution unless the institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of a director who is an officer or director of the depository. The corporation may not receive money on deposit.
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