Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 06 - Mutual Savings Banks
Article 5 - Prohibited Practices and Sanctions
3 AAC 06.410 - Embezzlement by officers or employees
Universal Citation: 3 AK Admin Code 06.410
Current through February 24, 2025
(a) When an embezzlement or mysterious disappearance of cash, securities, notes, or other assets is discovered in a bank, an immediate report must be made by officers of the bank, providing full disclosure of the circumstances under which it occurred, to
(1) the department;
(2) the FDIC and the Federal Bureau of
Investigation;
(3) the nearest
office of the Alaska State Troopers;
(4) the state district attorney serving the
district in which the bank is located; and
(5) the bonding company.
(b) The officers of the bank shall notify the board of trustees at the next regular or special meeting of the embezzlement or mysterious disappearance of assets and the circumstances under which it occurred.
Authority:AS 06.15.010
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