§ 34-30-160 — Confidentiality of records; inspection and examination; release; list of members or stockholders.

(A) The books and records of a state savings bank must be confidential and may be made available for inspection and examination only: (1) to the board or its duly authorized representatives; (2) to persons duly authorized to act for the state savings bank; (3) to any federal or state instrumentality or agency authorized to inspect or examine the books and records of an insured depository institution; (4) as compelled by a court of competent jurisdiction; (5) as compelled by legislative subpoena as provided by law; (6) as authorized by the board of directors of the state savings bank; or (7) as provided in subsections (B), (C), and (D). (B) A depositor, borrower, or stockholder has the right to inspect the books and records of a state savings bank as pertain to his loans, his accounts, or the determination of his voting rights. (C) The books and records pertaining to the accounts, loans, and voting rights of depositors, borrowers, and stockholders must be kept confidential by the state savings bank and its directors, officers, and employees and may not be released except upon express written authorization of the account holder as to his own accounts, loans, or voting rights. However, information relating to a loan made by an association may be released without the borrower's authorization in a manner prescribed by the board of directors for the purpose of meeting the needs of commerce and for fair and accurate credit information. (D) A member, stockholder, or other person must not have access to or be furnished or possessed of a partial or complete list of the members or stockholders except upon express action authorized by the board of directors.

Legislative History

HISTORY: 1997 Act No. 90, SECTION 1, eff June 10, 1997.