Can you summarize 3 AKAC 02.160?

Short Summary

(a) The executive officers, directors, and principal shareholders of a new domestic bank holding company must file, on forms provided by the department, required biographical and financial information before engaging in activities regulated by 3 AAC 02.145 - 3 AAC 02.180 . New or additional directors and officers shall also file on forms provided by the department the information required by this subsection within 30 days after being elected to or hired for the position. Biographical and financial information required under this section is considered confidential by the department and not subject to subpoena. (b) In this section ‘principal shareholder’ means a person, company, association, or other entity owning 10 percent or more of the outstanding shares of the domestic bank holding company. Statutory Authority Authority: AS 06.01.025 (a) AS 06.05.005 (a) AS 06.05.235 (Eff. 7/31/69, Register 31; am 4/6/79, Register 70; am 1/10/94, Register 129)

Jurisdiction

Alaska

Source

• Banking