3 AAC 80.480 - 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
(A) deed of
trust;
(B) financing
statement;
(C) limited entry
permit;
(D) quota share;
(E) warranty deed;
(F) bill for sale;
(G) mortgage;
(H) lien;
(I) vehicle title; or
(J) vessel documentation;
(2) general information regarding
a loan, 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;
(4) foreclosure and default
proceedings.
(b) The
following information is confidential and is not subject to public disclosure:
(1) personal and financial information,
including
(A) income tax returns;
(B) financial statements;
(C) business income statements;
(D) pro forma profit and loss
statements;
(E) credit information
obtained from banks and other creditors;
(F) reports from consumer reporting
agencies;
(G) processor statements;
and
(H) commercial fishing pink
slips (fish tickets);
(2)
loan committee memoranda and minutes containing information relating to an
applicant's creditworthiness;
(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. A person may request disclosure of information under 2 AAC 96.
After the department receives a request for disclosure, the department will
(1) notify the loan applicant and any other
person with a privacy interest in the request; and
(2) allow the applicant or other interested
person to present reasons why the requested information should not be
disclosed.
Notes
Authority: Art. I, sec. 22, Ak Const.
AS 16.10.905
AS 40.25.110
AS 40.25.120
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