Alaska Statutes 06.05.466 – Dissolution before commencement of business
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Terms Used In Alaska Statutes 06.05.466
- bank: means a person doing a banking business, including persons subject to the law of this or another jurisdiction. See Alaska Statutes 06.05.990
- department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.05.990
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
If the department discovers, after it approves the articles of incorporation for a bank but before it issues a certificate of authority to the bank, a reason why a bank should not have been incorporated, or if a certificate of authority is not issued within the later of one year after the issuance of the certificate of incorporation or the time the department allows for satisfaction of conditions precedent to the issuance of a certificate of authority, the bank shall voluntarily dissolve under Alaska Stat. § 10.06.605 – 10.06.625 or may be involuntarily dissolved by the department under Alaska Stat. § 10.06.633.