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Title 3 . Commerce, Community, and Economic Development
Chapter 12 . Land Sales
Section 70. Maintenance of records

3 AAC 12.070. Maintenance of records

(a) Each licensee shall install and maintain in his or her place of business such books, accounts, and records as will lend themselves readily to inspection, examination and audit. If other businesses are conducted in the same office, he or she shall maintain separate books and records pertaining to the loan business.

(b) No licensee may, however, conduct any other type of business in association or conjunction with the loan business except as may be authorized in writing by the department. If another business, not authorized under AS 06.20, is conducted in the same office, the licensee shall fairly and equitably allocate all expenses so that the books relating to the licensee's business under AS 06.20 will fairly reflect expenses of conducting that business.

History: In effect before 7/28/59; am 6/30/77, Register 62

Authority: AS 06.20.160

AS 06.20.180

AS 06.20.210

AS 06.20.340


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Last modified 7/05/2006