Alaska Statutes 06.20.170 – Periodic examination
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 06.20.170
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.20.900
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
The department shall examine the affairs, business, office, and records of each licensee at least once every 18 months. Examination fees are to be charged to and paid by the licensee in accordance with Alaska Stat. § 06.01.010. The department may maintain an action for the recovery of the costs in any court of competent jurisdiction, with recourse to the bonds referred to in Alaska Stat. § 06.20.050 and 06.20.080.