Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 13 - Money Services
Article 3 - Examinations, Reports, and Records
3 AAC 13.210 - Authority to conduct examinations and investigations
Universal Citation: 3 AK Admin Code 13.210
Current through February 24, 2025
(a) When the department conducts an on-site investigation under AS 06.55.105(a) l06.55.103(b), or 06.55.203(a) or an examination under AS 06.55.401,
(1) the applicant, money services licensee,
or authorized delegate shall provide the department free access to the place of
business, books, accounts, safes, and vaults of that person to examine and make
copies as necessary;
(2) the
department may retain accountants, professionals, or specialists as examiners,
auditors, or investigators, to conduct or assist in the conduct of an
investigation or examination; and
(3) the applicant, money services licensee,
or authorized delegate shall pay the department examination and investigation
fees in accordance with
AS
06.01.010 and any expenses required to be
paid under 3 AAC 13.850 for each
representative of the department who is reasonably necessary to conduct the
investigation or examination.
(b) Instead of an on-site investigation under AS 06.55.105(a) or 06.55.203(a) or an examination under AS 06.55.401, the department will accept the audit of a licensed certified public accountant, if
(1) the applicant, money services licensee,
or authorized delegate pays the costs of the audit;
(2) the audit is equal in scope to the
investigation or examination required by the department;
(3) the licensee provides written or
electronic notice through the registry that the licensee is having the audit
prepared instead of the investigation or examination required by the
department; and
(4) the department
has given prior written or electronic approval for the person to conduct the
audit.
Authority:AS 06.01.010
AS 06.55.103
AS 06.55.105
AS 06.55.203
AS 06.55.401
AS 44.33.020
Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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