Section 3.75.075. 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 financing statement, aircraft title, or aircraft documentation;  
		(2) general information regarding loans, including the original loan amount, loan terms, personal guarantees, and disbursement and repayment schedules;  
		(3) insurance matters, including insurance policies and correspondence with insurance companies or borrowers regarding losses, accident reports, and nonpayment of premiums;  
		(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, profit and loss statements, credit information obtained from banks and other creditors, and reports obtained from consumer reporting agencies;  
		(2) loan committee memoranda and minutes containing information relating to creditworthiness of an applicant;  
		(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.   

Authorities

40.25.110;40.25.120;44.33.660

Notes

Authority

Art. I, sec. 22, Ak Const. AS 40.25.110 AS 40.25.120 AS 44.33.660

History

Eff. 8/22/2008, Register 187