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2020 Alaska Statutes
Title 10. Corporations and Associations
Chapter 10. Business and Industrial Development Corporation Act
Sec. 10.10.140. Designation of depository; prohibition against receiving deposits.
Universal Citation:
AK Stat § 10.10.140 (2020)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
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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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