Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 01 - Financial Institution General Administration
Article 4 - General Provisions
3 AAC 01.905 - Records; disclosure and limitation on disclosure

Universal Citation: 3 AK Admin Code 01.905

Current through February 24, 2025

(a) The records, reports, and correspondence files of the division with respect to financial institutions are not public documents, are not subject to subpoena, and are not open for inspection by the public. Neither the commissioner, the director, nor a member of their respective staffs will disclose information obtained in the discharge of official duties to a person not connected with the division, except that the commissioner will, in the commissioner's discretion, disclose that information to

(1) representatives of federal agencies insuring accounts in the financial institution;

(2) representatives of federal agencies, other states, and foreign countries having supervisory authority over the activities of the financial institution or enterprises, or similar financial institutions or enterprises, if those representatives are permitted to and do, upon request of the commissioner, disclose similar information respecting those financial institutions under their supervision;

(3) the attorney general of this state; and

(4) a person or financial institution the records, reports, or correspondence that apply to that particular person or financial institution; the records, reports, or correspondence will not be disclosed to a person who is not a current account holder, except in the discretion of the commissioner.

(b) The commissioner will, in the commissioner's discretion

(1) repealed 1/10/94;

(2) prepare and circulate reports reflecting the assets and liabilities of financial institutions, in the state as a whole, or other general statistical information; and

(3) prepare and circulate reports as provided by law.

(c) Repealed 1/10/94.

(d) No records, reports, or correspondence that are prohibited from disclosure under federal law will be disclosed by the department to any person or institution.

(e) The board of directors of a bank may release a report of examination, prepared by the department,

(1) to an independent auditor under contract to produce a report of the bank's condition under AS 06.05.438(d); or

(2) for review by a potential purchaser of a financial institution, upon written consent of the department under AS 06.01.025(a).

Authority:AS 06.01.025

AS 06.05.005

AS 06.15.010

AS 06.20.340

AS 06.26.900

AS 06.40.180

AS 06.45.010

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