- Alaska Statutes.
- Title 44. State Government
- Chapter 81. Commercial Fishing and Agriculture Bank
- Section 270. Audits and Examinations of Bank.
previous: Section 260
. Confidentiality of Records.
next: Section 280
. Prohibition On Disclosure. [Repealed, Sec. 27 Ch 34 SLA 1996].
AS 44.81.270. Audits and Examinations of Bank.
- (a) The legislative auditor may cause the bank to be audited in the manner and under the conditions established by AS 24.20.271
for audits performed by the legislative audit division. The legislative audit division has free access to all books
and papers of the bank that relate to the business of the bank and books and papers kept by a director, officer, or
employee relating to or upon which a record of the business of the bank is kept. The legislative audit division may
summon witnesses and administer oaths or affirmations in the examination of directors, officers, or employees of the
bank or another person in relation to the affairs, transactions, and conditions of the bank, and may require and compel
the production of records, books, papers, contracts, or other documents by court order if not voluntarily produced. At
the direction of the Legislative Budget and Audit Committee under AS 24.20.271
, the legislative auditor may conduct an audit of the bank.
- (b) The legislative auditor and the auditor's employees may not disclose information acquired by them in the course of an
audit of the bank concerning the particulars of the business or affairs of a borrower of the bank or another person,
unless the information is required to be disclosed by law or under a court order.
- (c) The bank shall be audited annually by independent outside auditors. The legislative auditor may confer with the
outside auditors and review the work papers of the audit. The board shall engage the outside auditors, who shall be
responsible to the board. The bank shall submit copies of each report of the outside auditors to the legislative
auditor within 30 days of the report by the bank.
- (d) [Repealed, Sec. 2 ch 27 SLA 2003].
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