Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 03 - Credit Unions
Article 1 - Powers of the Department
3 AAC 03.030 - Charge-offs
Universal Citation: 3 AK Admin Code 03.030
Current through February 24, 2025
The commissioner will, in his discretion, require a state-chartered credit union to
(1) charge-off that portion of an asset classified as loss in the NCUA report of examination or the state report of examination; or
(2) charge-off all debts owed to the credit union in which interest due has been unpaid for a period of six months unless the debt principal is adequately secured and the credit union is in the process of collection.
Authority:AS 06.01.020
AS 06.45.010
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