3 AAC 04.990 - Definitions

In AS 06.26 and this chapter, unless the context requires otherwise,

(1) "department" means the Department of Commerce, Community, and Economic Development;

(2) "executive"

(A) means

(i) the chair of the board of directors;

(ii) the chief executive officer, the president, the treasurer, the chief financial officer, the secretary, the cashier, and each vice president of the trust company; and

(iii) any person who participates or has authority to participate, other than in the capacity of a director, in major policymaking functions of the trust company, regardless of whether the person has an official title, the person's title designates that person as an assistant, or the person serves without salary or other compensation;

(B) does not include a person

(i) excluded, by resolution of the board of directors or by the bylaws of the trust company, from participation, other than in the capacity of a director, in major policymaking functions of the trust company; and

(ii) who does not actually participate in major policymaking functions of the trust company.

Notes

3 AAC 04.990

Eff. 3/29/2008, Register 185

Authority:AS 06.26.900