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An officer of a state bank may have an uncollateralized credit card balance of up to $10,000 as a loan with that bank. For purposes of AS 06.05.210 (a), such a loan must be approved by the board of directors of that bank only at the time the credit card is issued and the unpaid balance of the loan need not be reported to the department, unless it is $10,000 or greater.
History: Eff. 10/23/94, Register 132
Authority: AS 06.05.005
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Last modified 7/05/2006