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Can you summarize 3 AKAC 02.175?
Banking Practices > Change in control of a bank holding company.
Short Summary
(a) Before a change of ownership may occur in the outstanding voting shares of a domestic bank holding company that will result in a change of control, the transaction must be approved by the department. (b) If a change of ownership occurs or is about to occur in the outstanding voting shares of an out-of-state bank holding company, and the change results in or will result in a change of control, the transaction must be reported by the out-of-state bank holding company to the department immediately, but not later than the end of the next state business day. Statutory Authority Authority: AS 06.05.005 (a) AS 06.05.235 AS 06.05.570 (Eff. 7/31/69, Register 31; am 4/6/79, Register 70; am 1/10/94, Register 129)
Jurisdiction
Alaska