Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 02 - Banking
Article 2 - Banking Practices
3 AAC 02.120 - Reporting loans over $500,000
Universal Citation: 3 AK Admin Code 02.120
Current through February 24, 2025
(a) The purpose of this section is to encourage the board of directors to review larger loans to ensure that lending practices are consistent with the bank's established lending policies, but not to require the reporting of the aggregate liability of a borrower.
(b) In each report to the board of directors under AS 06.05.438(c), the reporting officer shall specifically identify each loan made since the last report that exceeds $500,000.
In making 3 AAC 02.120 permanent, the regulations attorney reorganized the section.
Authority:AS 06.05.005
AS 06.05.438
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