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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 26. Revised Alaska Trust Company Act
- Section 610. Customer Records Confidential.
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. Trust Account Record Keeping..
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. Insurance; Bonds.
AS 06.26.610. Customer Records Confidential.
- (a) The trust company records relating to customers are confidential and may not be made public unless
- (1) disclosure is compelled by a court or administrative order;
- (2) disclosure is required by federal or state law;
- (3) disclosure is authorized in writing by the customer;
- (4) disclosure is made to the holder of a negotiable instrument drawn on the trust company as to whether the drawer has
sufficient money or other assets in the financial institution to cover the instrument; or
- (5) an inquiry has been made by a state financial institution, or by a credit-reporting agency regulated under 15 U.S.C.
1681 - 1681v (Fair Credit Reporting Act) solely for the express purpose of determining the credit worthiness of the
customer as an applicant for credit, and the information disclosed by the trust company, state financial institution,
or credit-reporting agency relates only to the payment habits of the customer in connection with loans or other credit
accommodations and does not pertain to records concerning deposit balances in savings or checking accounts.
- (b) When disclosure of trust company records is required or allowed under (a)(1) or (2) of this section, the trust company
shall notify the customer of the disclosure. If notification before disclosure is not possible, the trust company shall
immediately notify the customer of the disclosure or inquiry. However, the trust company may not notify the customer if
disclosure is made under a search warrant or under a court order issued at the request of a grand jury.
- (c) When disclosure of trust company records is compelled by a court order under (a)(1) of this section, the court may
provide in the order for the reimbursement of the trust company for the costs allowed by the rules of court and
incurred by the trust company to comply with the order.
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