3 AAC 02.020. Reports to the department

(a) A bank shall prepare the quarterly reports of condition required under AS 06.05.045 (a) on the FFIEC Consolidated Reports of Condition and Income form and, if the bank is required to file the form with the FDIC or the Federal Reserve Bank, the report to the department must be a duplicate of the form filed with that agency.

(b) If compatible and with the approval of the department, a bank may file reports required by the department by means of the electronic transfer of information of by telephone facsimile. If a signature is otherwise required, the department will, in its discretion, accept a facsimile or an electronic signature in lieu of an original signature. If a bank files a report under this section, the bank shall maintain the original, hard copy version of the report until the next examination by the department.

(c) In performing its annual examination of a state bank to be submitted to the department as required under AS 06.05.438 (d), the board of directors shall have the books and records of the bank examined and a report prepared by an independent certified public accountant who has no interest, financial or otherwise, in the bank.

History: Eff. 1/10/94, Register 129

Authority: AS 06.05.005 (a)

AS 06.05.045

AS 06.05.438 (d)

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