Advertising with us can place you in front of thousands of visitors a day. Learn more!
|
|
|
- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 1. Administration
- Section 35. Penalties.
previous:
Section 30. Orders and Injunctions; Notice and Hearings.
next:
Section 40. Examination Policy.
AS 06.01.035. Penalties.
- (a) A person who knowingly violates, or causes another person to violate, a provision of this title, or a regulation or
order of the department under this title, for which a specific remedy is not provided, is guilty of a class A
misdemeanor.
- (b) A person who, without first receiving a license or certificate of authority from the department, participates in an
activity that requires a license or certificate of authority under this title, is guilty of a class A misdemeanor.
- (c) A person is guilty of a class C felony if the person, with intent to deceive the department, the commissioner, or a
person authorized to examine the affairs of a financial institution, knowingly
- (1) makes or causes a false statement or report to be made;
- (2) enters a false figure, statement, or entry in the books of a financial institution; or
- (3) makes or circulates a false report or statement about the condition of a financial institution.
- (d) A director, officer, or employee of a financial institution who receives a deposit, after having been notified by
regulatory authorities that the institution is insolvent and without the department's prior approval, is guilty of a
class C felony.
- (e) In addition to other penalties applicable under this section, if a person other than a financial institution knowingly
or intentionally violates, or causes another person to violate, a provision of this title, or a regulation or order of
the department under this title, the department may issue an order against the person imposing a civil penalty of not
more than $2,500 a day for a single violation, and not more than $25,000 for multiple violations that constitute a
single proceeding or a series of related proceedings.
- (f) In addition to other penalties applicable under this section, if a financial institution knowingly or intentionally
violates a provision of this title, or a regulation or order of the department under this title, the department may
issue an order against the institution imposing a civil penalty of not more than $5,000 a day for a single violation,
and not more than $50,000 for multiple violations that constitute a single proceeding or a series of related
proceedings.
- (g) For violations not covered by (e) or (f) of this section, and in addition to other penalties applicable under this
section, if a person, including a financial institution, violates, or causes another person to violate, a provision of
this title, or a regulation or order of the department under this title, the department may issue an order against the
person imposing a civil penalty of not more than $500 a day for a single violation, and not more than $5,000 for
multiple violations that constitute a single proceeding or a series of related proceedings.
- (h) A financial institution that fails to file a report or make payments required by the department within the time
specified in this title is subject to a penalty of not more than $100 a day for each day the report or payment is late.
A financial institution is considered to have transmitted a report or payment when the institution mails the report or
payment, properly addressed to the department and with the appropriate postage.
- (i) In addition to other penalties applicable under this section, the department shall dismiss an employee of the
department who violates AS 06.05.065(a). An employee
dismissed under this subsection is forever disqualified from holding a position in the department relating to the
regulation of financial institutions. An employee who is dismissed under this subsection may appeal the dismissal under
AS 39.25 (State Personnel Act), unless the employee is in the
exempt or partially exempt service under AS 39.25.110
- 39.25.120.
- (j) Notwithstanding the other provisions of this section, the failure to have a business license issued under
AS 43.70.020 as required by AS 06.50.020(a) is not a violation for the purposes of (a) and (e) — (g)
of this section.
All content © 2023 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2022. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.