3 Alaska Admin. Code § 80.090

Current through December 21, 2024

Section 3 AAC 80.090 - Confidentiality of loan information

(a) The following information is not confidential and is available for public inspection upon request:

(1) a document that is already a public record, including a deed of trust, financing statement, limited entry permit, quota share, warranty deed, bill of sale, mortgage, lien, vehicle title, or vessel documentation;

(2) general information regarding loans, including the original loan amount, loan terms, personal guarantees, and disbursement and repayment schedules;

(3) insurance matters, including title insurance policies and correspondence with insurance companies or borrowers regarding losses, accident reports, and nonpayment of premiums; and

(4) foreclosure and default proceedings.

(b) The following information is confidential and is not subject to public disclosure:

(1) personal and financial information, including income tax returns, financial statements, business income statements, pro forma profit and loss statements, credit information obtained from banks and other creditors, reports from consumer reporting agencies, cannery statements, and commercial fishing pink slips (fish tickets);

(2) loan committee memoranda and minutes containing information relating to creditworthiness of an applicant; and

(3) the payment history on a loan, unless the loan is in default.

(c) Information not described in (a) or (b) of this section may be subject to public disclosure. Requests for disclosure must be made, and will be determined, in accordance with 2 AAC 96. Upon receipt of a request for disclosure, the department will notify the loan applicant and other persons with a privacy interest in the request, to permit them to present reasons why the requested information should not be disclosed.

3 AAC 80.090

Eff. 9/11/85, Register 95; am 3/16/95, Register 133; am 8/10/97, Register 143

As of Register 176 (January 2006), and acting under AS 44.62.125(b)(6), the regulations attorney made a technical change to 3 AAC 80.090(c), to reflect Executive Order 113 (2005). Executive Order 113 eliminated the Telecommunications Information Council and transferred its functions related to public information and records to the governor and to the Department of Administration.

Authority: Ak. Const., art. I,

§ 22

AS 16.10.310

AS 40.25.110

AS 40.25.120