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Can you summarize AKST 06.05.548?
International and Interstate Banks and Out-of-State Bank Holding Companies and Depository Institutions; Relationship with In-State Depository Institutions. > Concentration of deposits.
Short Summary
(a) Unless expressly otherwise allowed under this title, an acquisition, a merger, or an ownership transaction is not permitted between a depository institution in this state and a depository institution in another state, if upon consummation of the acquisition, merger, or transaction the resulting depository institution, whether organized under state or federal law, controls 50 or more percent of the total amount of the deposits held by all depository institutions in this state. (b) The department may by regulation adopt a procedure that allows the department to waive the restriction in (a) of this section if the department finds that the purposes of this title will be fulfilled and the acquisition, merger, or transaction is in the public interest. References AS 6.05.532 AS 6.05.565 .565’> Sec. 06.05.565. Applicability of title to interstate state banks, interstate national banks, international banks, and bank holding companies. History History. ( 2 ch 28 SLA 1996)
Jurisdiction
Alaska