{"data":{"id":"us-ak/as-06.05.445","jurisdiction":"us-ak","citation":"AS 06.05.445","heading":"Net undivided profits and dividends.","body":"(a) A bank may not declare or pay a dividend in an amount greater than its net undivided profits then on hand.\n(b) In determining net profits for the purpose of declaring a dividend, a bank may not include in its calculations\n(1) loan loss reserves and losses in excess of reserves, including loans or other credits upon which interest for a period of six months is due and unpaid, unless the loan or credit is well secured and in the process of collection;\n(2) interest accrued but not collected on loans or other credits upon which the interest due is more than 90 days delinquent;\n(3) interest collected but not earned;\n(4) assets or depreciation that the department has required to be charged off;\n(5) the appreciation of any asset above its actual cost to the bank; and\n(6) any accrued expenses, interest or taxes due from the bank.","path":["Title 6. Banks and Financial Institutions.","Chapter 05. Alaska Banking Code.","Article 5. Conduct of Corporate Affairs."],"source_url":"https://www.akleg.gov/basis/statutes.asp#06.05.445","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:15Z","sha256":"4bc57e992dd4e24f0a1a9e3fc6d1324290aab9c7c996664cea2a2f2dd4ef2334","source_id":"us-ak","stale":false,"prev":"us-ak/as-06.05.443","next":"us-ak/as-06.05.450"},"notice":"GroundRules: Original legal text. Not legal advice."}