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HB 159: "An Act relating to the frequency of examinations of certain persons licensed to engage in the business of making loans of money, credit, goods, or things in action; repealing the requirement for a state examination and evaluation of the Alaska Commercial Fishing and Agriculture Bank; and providing for an effective date."

00                             HOUSE BILL NO. 159                                                                          
01 "An Act relating to the frequency of examinations of certain persons licensed to engage                                 
02 in the business of making loans of money, credit, goods, or things in action; repealing the                             
03 requirement for a state examination and evaluation of the Alaska Commercial Fishing                                     
04 and Agriculture Bank; and providing for an effective date."                                                             
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  AS 06.20.170 is amended to read:                                                                     
07            Sec. 06.20.170.  Periodic [ANNUAL] examination.  The department shall                                
08       examine the affairs, business, office, and records of each licensee at least once every                       
09       18 months [EACH YEAR].  Examination fees are to be charged to and paid by the                                 
10       licensee in accordance with AS 06.01.010.  The department may maintain an action                                  
11       for the recovery of the costs in any court of competent jurisdiction, with recourse to                            
12       the bonds referred to in AS 06.20.050 and 06.20.080.                                                              
13    * Sec. 2.  AS 44.81.270(d) is repealed.                                                                            
14    * Sec. 3.  This Act takes effect July 1, 2003.