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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 1. Administration
- Section 15. Examinations.
previous: Section 10
. Examination and Investigation Fees and Assessments.
next: Section 20
. Department Authority to Add Financial Institution Powers and Limitations.
AS 06.01.015. Examinations.
- (a) Financial institutions regulated under this title are subject to at least one examination every 18 months. The
department may conduct additional examinations at its discretion.
- (b) The department shall select one or more competent persons to make examinations of financial institutions. The examiner
shall take and subscribe an oath that
- (1) the examiner will honestly and impartially examine into and report the condition of the institution as to assets and
liabilities and other information required by the department;
- (2) the examiner will not disclose the information the examiner obtains through the examination to a person other than the
- (3) at the time of employment, the examiner is not obligated to, or the owner of an interest in, the institution and is
not an officer or shareholder of the institution;
- (4) the examiner does not own more than five percent of the voting shares in another financial institution in the state;
- (5) the examiner is not an officer or employee of another financial institution in the state.
- (c) The department shall promptly call to the attention of the directors of an institution irregularities in the conduct
of the financial institution's business and any violations. The department shall send a copy of the report of
examination to the institution examined.
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