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Title 3 . Commerce, Community, and Economic Development
Chapter 3 . Land Sales
Section 30. Charge-offs

3 AAC 03.030. Charge-offs

The commissioner will, in his discretion, require a state-chartered credit union to

(1) charge-off that portion of an asset classified as loss in the NCUA report of examination or the state report of examination; or

(2) charge-off all debts owed to the credit union in which interest due has been unpaid for a period of six months unless the debt principal is adequately secured and the credit union is in the process of collection.

History: Eff. 10/2/83, Register 87

Authority: AS 06.01.020

AS 06.45.010

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Last modified 7/05/2006