{"data":{"id":"us-ak/as-06.05.472","jurisdiction":"us-ak","citation":"AS 06.05.472","heading":"Liquidation.","body":"(a) In liquidating a state bank, the department may exercise any power incidental to liquidating a bank, but it may not, without the approval of the superior court,\n(1) sell an asset of the bank having an appraised value in excess of $100,000;\n(2) compromise or release a claim that exceeds $100,000, exclusive of interest;\n(3) make full payment on a claim, other than a claim upon an obligation incurred by the department, before preparing and filing a schedule of the department's determinations under AS 06.05.473(d)(3).\n(b) Within six months after beginning the liquidation of a bank, the department may terminate an executory contract for services or advertising to which the bank is a party or an obligation of the bank as a lessee. A lessor who receives 60 days' notice of the department's decision to terminate a lease does not have a claim for rent, other than rent accrued to the date of termination, or for damages due to the termination.\n(c) As soon as practical after beginning the involuntary liquidation of a bank, the department shall take the steps necessary to terminate all fiduciary positions held by the bank, to surrender all property held by the bank as a fiduciary, and to settle the fiduciary accounts of the bank.","path":["Title 6. Banks and Financial Institutions.","Chapter 05. Alaska Banking Code.","Article 6. Dissolution, Reorganization, Liquidation, and Department Possession."],"source_url":"https://www.akleg.gov/basis/statutes.asp#06.05.472","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:15Z","sha256":"bf4035938f03e32f0c2a9649abb64971c97c079f213a2819597f11d8184d9b04","source_id":"us-ak","stale":false,"prev":"us-ak/as-06.05.471","next":"us-ak/as-06.05.473"},"notice":"GroundRules: Original legal text. Not legal advice."}