GroundRules
AS 10.10.140: Designation of depository; prohibition against receiving deposits.
Where this section sits in the code
- Title 10. Corporations and Associations.
- Chapter 10. Business and Industrial Development Corporation Act.
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.
Collected 2026-09-02T06:16:39Z. Source file · JSON