Section 3.02.155. Extension of credit by a bank to the bank's holding company or subsidiaries of the holding company.

Latest version.

A subsidiary bank may not extend credit, secured or unsecured, in excess of the bank's legal lending limit to the bank's holding company or any of the holding company's subsidiaries. In this section, to extend credit includes:  
		(1) loans;  
		(2) the purchase of securities or other assets under a repurchase agreement;  
		(3) the discount of promissory notes, bills of exchange, conditional sales contracts, or other similar paper; and  
		(4) advances made against collateral security in the form of capital stock, bonds, debentures, or other obligations of the domestic bank holding company or its subsidiaries.

Authorities

06.05.005;06.05.205;06.05.235;06.05.570

Notes

Authority
 AS 06.05.005(a)  
AS 06.05.205(b)  
AS 06.05.235  
AS 06.05.570  
History Eff. 7/31/69, Register 31; am 4/6/79, Register 70; am 1/10/94, Register 129

                    
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