3 AAC 01.905. Records; disclosure and limitation on disclosure

(a) The records, reports, and correspondence files of the division with respect to financial institutions are not public documents, are not subject to subpoena, and are not open for inspection by the public. Neither the commissioner, the director, nor a member of their respective staffs will disclose information obtained in the discharge of official duties to a person not connected with the division, except that the commissioner will, in the commissioner's discretion, disclose that information to

(1) representatives of federal agencies insuring accounts in the financial institution;

(2) representatives of federal agencies, other states, and foreign countries having supervisory authority over the activities of the financial institution or enterprises, or similar financial institutions or enterprises, if those representatives are permitted to and do, upon request of the commissioner, disclose similar information respecting those financial institutions under their supervision;

(3) the attorney general of this state; and a person or financial institution the

(4) records, reports, or correspondence that apply to that particular person or financial institution.

(b) The commissioner will, in the commissioner's discretion

(1) repealed 1/10/94;

(2) prepare and circulate reports reflecting the assets and liabilities of financial institutions, in the state as a whole, or other general statistical information; and

(3) prepare and circulate reports as provided by law.

(d) No records, reports, or correspondence that are prohibited from disclosure under federal law will be disclosed by the department to any person or institution.

(e) The board of directors of a bank may release a report of examination, prepared by the department, to an independent auditor under contract to produce a report of the bank's condition under AS 06.05.438 (d).

History: Eff. 6/6/82, Register 82; am 1/10/94, Register 129

Authority: AS 06.01.025

AS 06.05.005 (a)

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