3 AAC 02.185 - Banking related activities
(a) A bank may
engage in the activities described in (b) and (c) of this section even though
those activities may not be included under the definitions of either "banking"
in AS
06.05.990(3) or "branch
bank" in AS
06.05.990(4).
(b) A bank may establish offices that engage
in the following activities without a certificate of authority issued under
AS
06.05.350 or
06.05.399:
(1) local representation and assistance to
the public concerning banking services performed at the bank;
(2) loan production activities as described
in (c) of this section; and
(3)
other services or activities related to the bank's business such as tax
preparation, insurance, accounting, data processing, and public
relations.
(c) A loan
production office may engage in the following loan production activities, which
do not constitute lending money within the meaning of
AS
06.05.990(3) or (4)
(1) soliciting loans on behalf of a bank or a
branch bank;
(2) assembling credit
information;
(3) making property
inspections and appraisals;
(4)
securing title information;
(5)
preparing applications for loans, including making any recommendations to the
bank for action;
(6) soliciting
investors to purchase loans from the bank and seeking to have these investors
contract with the bank for servicing of those loans; and
(7) other similar services or activities
which may be allowed by the department.
(d) If loans are approved and funds disbursed
solely at the main office or a branch of a bank, a loan production office that
engages in only the activities listed in (c) of this section is not a "place
... at which ... money is lent" within the meaning of
AS
06.05.990(4).
(e) An office that operates as a
representative office or a loan production office under this section shall
conduct its activities in such a manner that neither the public nor customers
will be deceived as to the limited services available from the
office.
(f) Notwithstanding (b) -
(e) of this section, if an office of a bank or of any of its branches engages
in receiving deposits, payment of checks, lending of money, or any other
activity included under the definition of "banking'' in
AS
06.05.990(3), the office
shall first apply to the department for a certificate of authority to operate
as a branch bank.
(g) A bank may
operate a courier service for the purpose of collecting or disbursing funds to
customers if
(1) the activities of the
courier are directly related to the bank's business;
(2) the courier service is approved by the
department before operations begin; and
(3) the bank complies with any restrictions
or limitations that the department places on the courier activities.
(h) A bank may make available its
data processing equipment or perform data processing services on that equipment
for other banks and bank customers if the bank is adequately insured against
any additional liability incurred through the sale of those services.
Notes
Authority:AS 06.05.005
AS 06.05.075
AS 06.05.272
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