Sec. 44.85.090. Limitations.

215 words·~1 min read·/ak/title-44/chapter-85/44-85-090

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Under this chapter, the bond bank authority may not

(1)make loans of money to a person, firm, or corporation except as provided in this chapter;

(2)emit bills of credit, accept deposits of money for time or demand deposit, administer trusts, or engage in any form or manner in, or in the conduct of, a private or commercial banking business, or act as a savings bank or savings and loan association;

(3)be or constitute a bank or trust company within the jurisdiction or under the control of a regulatory or supervisory board or department of the state, the Comptroller of the Currency of the United States, the United States Department of the Treasury, or the Board of Governors for the Federal Reserve System;

(4)be or constitute a bank, banker, or dealer in securities within the meaning of or subject to the provisions of securities, securities exchange, or securities dealers law of the United States or of this or another state; or

(5)issue bonds or notes to a regional health organization unless

(A)the remaining costs of a project are secured or delivered to the bond bank authority before the bond bank authority provides financing; and

(B)the bonds or notes do not exceed $250,000,000 for a single project.