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(a) A creditor may not communicate with a debtor regarding the collection of a debt without the prior written consent of the debtor or pursuant to an order by a court of competent jurisdiction

(1) after written notification from an attorney representing the debtor that all further communications regarding the loan must be addressed to the attorney, unless the attorney fails to respond within a reasonable time to the creditor's inquiries regarding the debt or the attorney consents to direct communication with the debtor;

(2) at the debtor's place of employment unless the debtor's employer permits employees to receive those communications during working hours.

(b) Any creditor communicating with any person for the purpose of acquiring information regarding the whereabouts of the debtor, e.g., the debtor's residence, telephone number, or place of employment, may not in any way use a form of communication or otherwise indicate that the debtor owes any debt.

(c) A creditor who has assigned an alleged debt to a credit reporting agency shall, upon receipt of a written notice from the debtor that any part of the alleged debt is disputed, forward a copy of the written notice to the credit reporting agency.

(d) A creditor may not

(1) take or threaten to take any nonjudicial action to effect dispossession or disablement of property if

(A) there is no present right to possession of the property through an enforceable security interest;

(B) in the case of a threat, there is no present intention to effect dispossession or disablement of the property;

(C) the property is exempted by law from dispossession or disablement;

(2) threaten to take any action which, if taken, would violate any law;

(3) obtain a signed confession of judgment, when permitted to do so by Alaska law, by deception or coercion or on a document which is not clearly labeled "Confession of Judgment."

History: Eff. 4/4/79, Register 70

Authority: AS 06.05.005

AS 06.05.015 (11)

AS 06.05.075

AS 06.15.010

AS 06.20.340

AS 06.30.025

AS 06.30.030

3 AAC 01.220. False or misleading representations

A creditor may not use any false, deceptive or misleading representation or means in connection with the collection of any debt, including but not limited to the following:

(1) any false representation

(A) that the lender is vouched for, bonded by, or affiliated with the United States or any state;

(B) of the character, amount or legal status of any debt;

(C) of any services rendered or compensation due the creditor for the collection of any debt;

(D) that documents are not legal process forms or do not require action by the debtor;

(2) communicating or threatening to communicate to any person credit information which is known to be false or, if a debt is disputed, failing to communicate that fact when giving credit information.

History: Eff. 4/4/79, Register 70

Authority: AS 06.05.005

AS 06.05.015 (11)

AS 06.05.075

AS 06.15.010

AS 06.20.340

AS 06.30.025

AS 06.30.030

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Article 4
General Provisions

Section

905. Records; disclosure and limitation on disclosure.

910. Definitions.

3 AAC 01.905. Records; disclosure and limitation on disclosure

(a) The records, reports, and correspondence files of the division with respect to financial institutions are not public documents, are not subject to subpoena, and are not open for inspection by the public. Neither the commissioner, the director, nor a member of their respective staffs will disclose information obtained in the discharge of official duties to a person not connected with the division, except that the commissioner will, in the commissioner's discretion, disclose that information to

(1) representatives of federal agencies insuring accounts in the financial institution;

(2) representatives of federal agencies, other states, and foreign countries having supervisory authority over the activities of the financial institution or enterprises, or similar financial institutions or enterprises, if those representatives are permitted to and do, upon request of the commissioner, disclose similar information respecting those financial institutions under their supervision;

(3) the attorney general of this state; and

(4) a person or financial institution the records, reports, or correspondence that apply to that particular person or financial institution; the records, reports, or correspondence will not be disclosed to a person who is not a current account holder, except in the discretion of the commissioner.

(b) The commissioner will, in the commissioner's discretion

(1) repealed 1/10/94;

(2) prepare and circulate reports reflecting the assets and liabilities of financial institutions, in the state as a whole, or other general statistical information; and

(3) prepare and circulate reports as provided by law.

(c) Repealed 1/10/94.

(d) No records, reports, or correspondence that are prohibited from disclosure under federal law will be disclosed by the department to any person or institution.

(e) The board of directors of a bank may release a report of examination, prepared by the department,

(1) to an independent auditor under contract to produce a report of the bank's condition under AS 06.05.438 (d); or

(2) for review by a potential purchaser of a financial institution, upon written consent of the department under AS 06.01.025 (a).

History: Eff. 6/6/82, Register 82; am 1/10/94, Register 129; am 3/4/2018, Register 225

Authority: AS 06.01.025

AS 06.05.005

AS 06.15.010

AS 06.20.340

AS 06.26.900

AS 06.40.180

AS 06.45.010

3 AAC 01.910. Definitions

In this chapter, unless the context requires otherwise

(1) "communicating" means conveying information regarding a debt, directly or indirectly, to any person through any medium;

(2) "creditor" means a financial institution with a certificate of authority or license issued by the department under AS 06 to conduct business as a financial institution in this state including, but not limited to, commercial and mutual savings banks, savings associations, trust companies, finance company licensees, and premium finance company licensees;

(3) "debt" means any obligation or alleged obligation to pay money, whether or not the obligation has been reduced to judgment;

(4) "debtor" means any person obligated or allegedly obligated to pay any debt and, in the case where the debtor is a minor, includes the guardian, executor, administrator, or parent of the debtor;

(5) "department" means the Department of Commerce, Community, and Economic Development;

(6) "director" means the director of banking and securities in the department or the director's designee;

(7) "division" means the division of banking and securities in the department.

History: Eff. 4/4/79, Register 70; am 6/6/82, Register 82; am 1/10/94, Register 129; am 12/7/2006, Register 180

Authority: AS 06.05.005

AS 06.15.010

AS 06.20.340

AS 06.26.250

AS 06.40.180

AS 06.45.010

Editor's note: As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125 (b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.

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Chapter 02
Banking

Article

1. Powers of the Department of Commerce. (3 AAC 02.010 - 3 AAC 02.030)

2. Banking Practices. (3 AAC 02.110 - 3 AAC 02.205)

3. Organization and Corporate Functions of Banks. (3 AAC 02.209 - 3 AAC 02.230)

4. Liquidation, Dissolution, and Reorganization. (3 AAC 02.310 - 3 AAC 02.360)

5. Prohibited Practices and Sanctions. (3 AAC 02.410 - 3 AAC 02.420)

6. (Expired). (3 AAC 02.510 - 3 AAC 02.560)

7. General Provisions. (3 AAC 02.910 - 3 AAC 02.910)

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Article 1
Powers of the Department of Commerce

Section

10. Retention or destruction of records.

20. Reports to the department.

30. Examinations.

3 AAC 02.010. Retention or destruction of records

(a) The following is the retention schedule for Alaskan banks:



Key to Abbreviations

P.S. or Opt. - Purpose Served or Optional
D - Destroy
Months - Figure with "mos."
Years - Figures
Permanently - P

I. ADMINISTRATIVE

MINUTE BOOKS

Minute books of directors', executive committees', stockholders',

and other meetings .........................................................P
AUDITING AND ACCOUNTING
Accrual records ........................................................1
Audit copy of debits and credits to loans and discounts ................1
Audit work papers ......................................................3
Bank call reports ......................................................5
Bank examiner's reports ...............................................10
Budget work sheets ..................................................Opt.
Daily reserve computations .............................................2
Difference records .....................................................6
Earnings and dividends report .........................................10
Monthly reports to directors ...........................................P
Reports to executive committees .......................................10
Securities vault, in and out tickets ...................................3
Tax records .........................................................P.S.
CAPITAL
Capital stock certificates, records or stubs ...........................P
Capital stock ledger ...................................................P
Capital stock transfer register ........................................P
Dividend checks .......................................................10
Dividend register .....................................................10
Proxies ................................................................2
Register of and cancelled certificates .................................P
GENERAL LEDGER
Daily statement of condition ..........................................10
General journal ........................................................1
General ledger ........................................................10
General ledger tickets ................................................10
INSURANCE RECORDS
Bankers' blanket bonds .................................................3
Expired policies .......................................................3
Records of policies in force ...........................................3

Schedule of fire and other policies, and record of payment of

premiums and sums recovered ................................................3
INVESTMENTS - BANK'S PORTFOLIO
Bond ledger ...........................................................10
Brokers' confirmations .................................................3
Brokers' statements ....................................................3
Descriptive literature on securities disposed of ....................Opt.
Buy and sell orders ....................................................3
LOANS AND DISCOUNTS
Audit copy of debits and credits to loans and discounts ................1
Collateral cards ......................................................10
Collateral receipts ...................................................10
Collateral register ...................................................10
Collateral substitution slips (receipts) ..............................10
Credit files (closed) ...............................................Opt.
Daily reports .......................................................Opt.
Debit and credit tickets ..............................................10
Journal ...............................................................10
Liability ledger ......................................................10
Loan applications ...................................................Opt.
Loan committee minutes .................................................P
Margin cards ........................................................Opt.
Note or discount register .............................................10
Note or discount tickler ...............................................2
Resolutions (after loan is paid) .......................................6
Payment receipts .......................................................6
PERSONNEL
Attendance record (after leaving service) inc. "hours worked" ..........5
Salary ledger ..........................................................5
Salary receipts ........................................................5
Records of employees:

Applications, reference records, reports and results of
examinations, service record, efficiency tests, etc., after

leaving service ...........................................................25

II. CASH

DUE FROM BANKS
Advice from correspondents .............................................1
Affidavits or bonds of indemnity for duplicate drafts issued ..........10
Bank statements ........................................................2
Drafts ................................................................10
Draft register ........................................................10
Reconcilements:
Domestic ...........................................................2
Foreign ............................................................5
Departmental or teller's proof sheets ..................................2
PROOF OF CLEARINGS
Clearinghouse settlement sheets ..................................3 mos.
Deposit proof sheets or tapes ..........................................1
In-clearing proof sheets ...............................................1
In-clearing tapes ......................................................1
Out-clearing proof sheets ..............................................1
Clearinghouse settlement checks .......................................10
TELLERS
Cash item record .......................................................2
Cash item register .....................................................2
Receipts for return items ..............................................1
Return item carbons ....................................................1
Teller's cash books .................................................Opt.
Teller's cash tickets, orig. and carbon ................................1
Teller's recapitulation (with general ledger tickets) .................10
Teller's scratch sheet or blotter ......................................3
TRANSIT
Outgoing cash letters ..................................................1
Proof sheets ...........................................................1
INTERNATIONAL
Daily debits and credits ...............................................7
Acceptances - foreign exchange ........................................10
Acceptances purchased books ...........................................10
Advice checks drawn for our accounts ...................................7
Application for postal registration ....................................7
Cable copies ...........................................................7
Cable orders ...........................................................7
Miscellaneous checks and drafts ........................................7
Collateral records .....................................................7
Collections ............................................................7
Correspondence .........................................................7
Receipts for cash payments and securities delivered ....................7
Department record of checks and drafts drawn ...........................7
Draft requisitions .....................................................7
Paid foreign drafts ....................................................7
Record of foreign exchange bought and sold .............................7

Federal reserve reports - monthly report re: foreign

exchange position ..........................................................7
Letters of credit registers ............................................7
Letters of credit dead .................................................7
Letters of credit issued ...............................................7
Incoming payments ......................................................7
Mail transfers .........................................................P
Individual liability cards .............................................7
Paid credits ...........................................................7
Money order requisitions ...............................................2
Preliminary contracts ..................................................7
Remittances ............................................................7
Bills of exchange ......................................................7
Purchase and sales contracts (cancelled) ...............................7
Foreign drafts issued - register ......................................10
Telegraph code book ....................................................P
Traveler's letter of credit guarantee ..................................7
Teller's blotter .......................................................3
Contracts and contract cards ...........................................7
Departmental settlement sheets .........................................1
Foreign exchange remittance sheets or books ............................7
SAVINGS ACCOUNTS
Deposits ...............................................................7
Journals ...............................................................1
Ledger cards or sheets .................................................7
Control journal tapes ...............................................Opt.
Window bookkeeping machine control tapes ............................Opt.
Reports of accounts opened and closed ...............................Opt.
Resolution (after closed) ..............................................7
Signature cards (after closed) .........................................7
Signatures of power of attorney ........................................7
Trial balances ...................................................3 mos.
Affidavits on lost passbooks P/B .......................................7
Withdrawal ............................................................7*
Work sheets interest on time accounts ...............................Opt.
Editor's note:* Unless returned to cus-
tomer after microfilming.

III. DEPOSITS

ACCOUNT ANALYSIS
Analysis work sheets or cards .......................................Opt.
Average balance cards ...............................................Opt.
Interest computation records ........................................Opt.
Service charge records ..............................................Opt.
BANK (DUE TO) DEPOSITS
Advice of debit and credit, and memo entries ........................Opt.
Cash letters ...........................................................1
Cash letters for remittance ............................................1
Copies of advices of deposit ........................................Opt.
Country bank ledger ...................................................10
Ledger journal .........................................................1
Reconcilements .........................................................1
Reports of accounts, opened and closed ..............................Opt.
Resolutions (after account closed) .....................................7
Signature cards (after account closed) .................................7
Trial balances ...................................................6 mos.
CERTIFICATES OF DEPOSIT
Certificates (paid) ....................................................7
Ledger cards (paid) ....................................................7
Register (paid) ........................................................7
COMMERCIAL DEPOSITS, INDIVIDUAL AND FIRM
Bookkeepers daily list of checks charged in total ......................1
Check book orders ...................................................Opt.
Copies of advices of deposit ...........................................1
Daily report of overdrafts .............................................1
Deposit tickets .......................................................7*
Duplicate deposit tickets ...........................................Opt.
Individual ledgers .....................................................7
Individual ledger journal ..............................................1
Reports of accounts opened and closed ...............................Opt.
Resolutions (after closing) ............................................7
Signature cards (after closing) ........................................7
Signatures of power of attorney (after closing) ........................7
Statement mailing order (after closing) ................................3
Statement receipt cards (after closing) ................................3
Statement stubs ........................................................7
Stop payment orders (after release) ....................................1
Trial balances .........................................................1
Unclaimed deposits .....................................................P
Undelivered statements and cancelled checks ............................7
OFFICIAL CHECKS AND DRAFTS
Cashier's checks ......................................................10
Cashier's check register ..............................................10
Certified checks ......................................................10
Certified check register ..............................................10
Drafts ................................................................10
Draft stubs .........................................................Opt.
Draft register ........................................................10
Expense checks ........................................................10
Expense check register ................................................10
Expense vouchers ......................................................10
Letters of credit and documents .......................................10
Receipts for certified checks .........................................10
Requisitions ........................................................Opt.
SAVINGS DEPOSITS
Deposit tickets .......................................................7*
Duplicate deposit tickets ...........................................Opt.
Journal ................................................................1
Ledger cards or sheets .................................................7
Control journal tapes ..................................................1
Passbooks (closed accounts) ............................................D
Reports of accounts opened and closed ...............................Opt.
Resolutions (after account closed) .....................................7
Signatures of powers of attorney .......................................7
Trial balances .........................................................1
Withdrawal receipts ....................................................7
CHRISTMAS CLUB
Checks .................................................................7
Check register .........................................................7
Coupons (deposit ticket) ...............................................7
Journal ..........................................................3 mos.
Ledger cards or sheets .................................................7


(a) if paid by cash and receipt taken on card or sheet ...............7


(b) if paid by official check ........................................7
Signature cards (after closed) .........................................7
Trial balances .........................................................1
Withdrawal receipts ...................................................7*
* Editor's note: Unless returned to cus-
tomer after microfilming.

IV. MISCELLANEOUS COLLECTIONS

Collection receipts, carbons of ........................................3
Collection register ....................................................3
Coupon cash letters, outgoing ..........................................3
Coupon envelopes ....................................................Opt. Customers' file copies .................................................1
Incoming collection letters ............................................3
Installment contract or note records (after closing) ..................10
CUSTOMER SERVICE
Brokers' confirmations .................................................1
Brokers' invoices ......................................................1
Brokers' statements ....................................................1
Escrow records (after closing) .........................................7
Safekeeping records and receipts ......................................10
Securities buy and sell orders .........................................7
GENERAL
Affidavits ............................................................10
Applications for travelers' checks .....................................1
Attachments, garnishments ..............................................7
Attachment releases ....................................................7
Change of address orders ...............................................1
Code books (not returned) ..............................................D
Court order (after case closed) .......................................10
Court order memorandum record .........................................10
Death notices .......................................................Opt.
General correspondence .................................................3
Incoming mail envelopes .............................................Opt.
Night depository records ...............................................1
Paid bills, statements, and invoices ...................................1
Protest notices .....................................................Opt.
Receipts for check books ............................................Opt.
Receipts (ordinary) ....................................................7

Stenographers' note books and mechanical device records,

and extra copies of letters .............................................Opt.
Telegrams, cable, and radiogram copies .................................3
Telegraphic transfer receipts and records ..............................3
Trust records ..........................................................1
Vault records, opening and closing ...............................6 mos.
REGISTERED MAIL
Insurance declarations ..............................................Opt.
Marine insurance books ..............................................Opt.
Registered mail (incoming) record ......................................2
Registered mail (outgoing) record ......................................2
Return receipt cards ...................................................1
SAFE DEPOSIT VAULT
Access tickets (after entry date) ......................................7
Leases or contracts (closed) ...........................................7
Storage receipts .......................................................3
Ledger record of account ...............................................3
Rent receipts ..........................................................1

V. UNITED STATES SAVINGS BOND

United States Savings Bond stubs, As required in federal
Series E .................... regulations.
United States Savings Bond Series E As required in federal
applications .................... regulations.
(Memo: Applications must show bond numbers.
File alphabetically by years).

VI. DATA PROCESSING RECORDS

TAPE AND DISK FILES
Computer program tapes or disks - When a change is made, retain old tape or disk one month to verify program.
Master file tape or disk - One day if backup is kept, until a Grandfather* if not.
Sorted daily transaction tape or disk - One day if a print-out is made, until a Grandfather if not.
Report tapes or disks - Until updated report has been verified for accuracy.
MISCELLANEOUS DATA TAPES OR DISKS
New accounts - if print-outs are made daily, one day; until master is proven, if not.
Change of address - If print-outs are made daily, one day; until master is proven, if not.
Stop payment - If print-outs are made daily, one day; until master is proven, if not.
OTHER MASTER FILES
Account history tapes - Until it is a Grandfather tape. Statistical tapes - Until it is a Grandfather tape.
Original entry punch cards or cards punched by the computer - Two reporting periods of the information or two statement cycles.
Editor's note: Grandfather is a three-day-old tape or disk.

Grandfather - Monday
Father - Tuesday
Son - Wednesday


(b) Any record required to be retained by a bank under (a) of this section may be retained on microfilm, microfiche, or in any other form that preserves a true and accurate reproduction of the original document.

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