(1) (a) Information from the records of the division shall be revealed only to members of the banking board, except as follows:
Information may be disclosed if such disclosure is rendered necessary by law.
Any party entitled to appear in a hearing on an application for bank charter shallhave access to the applicant's proposed articles or amended articles of incorporation, application for charter, and proposed bylaws.
Subject to subsection (1.5) of this section, the commissioner may exchange information as to the condition of banks or trust companies with the United States comptroller of the currency, bank or financial institution regulatory departments of other states, the federal reserve system and its examiners, the federal deposit insurance corporation and its examiners, and the consumer financial protection bureau and its examiners.
Subject to subsection (1.5) of this section, the commissioner may exchange information obtained from money transmitters with the United States secretary of the treasury, the secretary's designees, the United States attorney general, the attorney general's designee, or other state or United States territorial regulatory agencies pertaining to the condition of money transmitters or compliance with federal money laundering and other financial crimes laws, including, but not limited to, the "Bank Secrecy Act", the "Right to Financial Privacy Act of 1978", the "Money Laundering Control Act of 1986", and the "Annunzio-Wylie Anti-Money Laundering Act".
The commissioner may exchange information as provided by part 2 of article 110 ofthis title 11.
(b) Notwithstanding any other provision of articles 101 to 109 of this title to the contrary, the commissioner, the commissioner's deputies, and the members of the banking board may disclose any information in the records of the division or acquired by them in the discharge of their duties that is publicly available from the federal deposit insurance corporation, the United States comptroller of the currency, the federal reserve system, or the consumer financial protection bureau or the disclosure of which has been specifically authorized by the board of directors of the financial institution to which such information relates.
(1.5) The commissioner shall not exchange information with any other governmental agency unless the commissioner is reasonably satisfied that the agency is obligated by law or contract to:
Share with the division similar information it may have in its possession; and
Maintain the confidentiality of any exchanged information under conditions that areno less restrictive than those imposed by law upon the division.
Reports of examinations made by the division shall be retained by the division forseven years.
Upon request and upon payment of such reasonable charges as the commissionershall prescribe, the commissioner shall furnish to any person a certified copy of any document on file with the division that is a public record. Such certified copy shall be admissible in evidence in lieu of the original and shall constitute prima facie evidence of the contents of the original.
The division or the commissioner may inform a licensing agency within the department of regulatory agencies of possible misconduct by a person or entity licensed by said agency, notwithstanding that the division or commissioner learned of the alleged misconduct while discharging their duties under the code. The division and the commissioner may give the licensing agency records or information in their possession relating to the licensee's alleged misconduct.
Source: L. 2003: Entire article added with relocations, p. 1073, § 3, effective July 1. L. 2007: (1) amended, p. 354, § 1, effective April 2. L. 2008: (4) added, p. 181, § 3, effective August 5. L. 2010: (1)(a)(IV) amended and (1)(a)(V) added, (HB 10-1114), ch. 192, p. 823, § 1, effective July 1. L. 2013: (1)(a)(III) and (1)(b) amended, (SB 13-154), ch. 282, p. 1476, § 36, effective July 1. L. 2017: (1)(a)(III) and (1)(a)(IV) amended and (1.5) added, (HB 17-1218), ch. 156, p. 534, § 1, effective August 9; (1)(a)(V) amended, (SB 17-226), ch. 159, p. 589, § 7, effective August 9.
Editor's note: This section is similar to former § 11-2-111 as it existed prior to 2003.
Cross references: For the "Bank Secrecy Act", see Pub.L. 91-508; for the "Right to Financial Privacy Act of 1978", see Title XI of Pub.L. 95-630, codified at 12 U.S.C. § 3401 et seq.; for the "Money Laundering Control Act of 1986", see Title I, subtitle H, §§ 1351-1367 of Pub.L. 99-570; for the "Annunzio-Wylie Anti-Money Laundering Act", see Title XV of Pub.L. 102-550.