AS 06.15.240: Investments authorized.

(a) In addition to loans and acquisitions expressly authorized by this chapter, a mutual bank may deal in, underwrite, and invest in for its own account the obligations that the department by regulation authorizes the bank to deal in, underwrite, or invest in for its own account.

(b) If a mutual bank does not assume responsibility for the risk of nonperformance or nonpayment of a security, the bank may purchase or sell the security upon the order of a customer and for the customer's account.