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(a) Before a change of ownership may occur in the outstanding voting shares of a domestic bank holding company that will result in a change of control, the transaction must be approved by the department.
(b) If a change of ownership occurs or is about to occur in the outstanding voting shares of an out-of-state bank holding company, and the change results in or will result in a change of control, the transaction must be reported by the out-of-state bank holding company to the department immediately, but not later than the end of the next state business day.
History: Eff. 7/31/69, Register 31; am 4/6/79, Register 70; am 1/10/94, Register 129
Authority: AS 06.05.005 (a)
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Last modified 7/05/2006