Alaska Statutes 44.81.260 – Confidentiality of records

(a) The records of the bank that are identified with, or identifiable as being derived from the records of, a specific borrower, member of the bank, or applicant for a loan are confidential and may not be disclosed by the bank or by its directors, officers, employees, or agents to a person other than the directors, officers, employees, or agents of the bank, except

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Terms Used In Alaska Statutes 44.81.260

action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
Statute: A law passed by a legislature.
Subpoena: A command to a witness to appear and give testimony.
Summons: Another word for subpoena used by the criminal justice system.
writing: includes printing. See Alaska Statutes 01.10.060

(1) when required by a federal or state statute;

(2) under Alaska Stat. § 44.81.270 and 44.81.275;

(3) under a search warrant issued under federal law or the law of this state;

(4) under a subpoena or court order issued in a civil action under federal law or the law of this state;

(5) under a subpoena or court order issued in connection with a proceeding before a federal grand jury or grand jury of this state;

(6) under a summons or subpoena issued by an agency or a department of the United States or this state, or an officer, employee, or agent of the agency or department;

(7) under a request by a financial institution, if the request is solely for the stated written purpose of determining the creditworthiness of a member or borrower as an applicant for credit, and if the information disclosed by the bank pertains only to the payment history of the member or borrower;

(8) under a request by a lender that has extended or is considering extending credit to the bank if the credit is or may be secured by the pledge of a loan by the bank;

(9) when disclosed to the attorney general of the United States or to a law enforcement agency of this state if the records may be relevant to a report or investigation of a possible violation of federal law or a law of this state.

(b) The records of the bank that are not subject to (a) of this section may be kept confidential by the bank, subject to the exceptions listed in (a)(1) – (5) of this section.

(c) Notwithstanding (a) – (b) of this section, a borrower, a member of the bank, or an applicant for a loan may authorize the bank in writing to disclose records provided to the bank by the borrower, member, or applicant.

(d) Notwithstanding (a) and (b) of this section, the bank may provide a list of the members of the bank who are eligible to serve as a director of the bank to members of the bank who are eligible to vote for directors of the bank.

(e) In this section,

(1) “member” includes past and present members;

(2) “records” means financial and other records, including information known to have been derived from the records, in any form, including original documents and copies.

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