The commissioner will, in his discretion, require a state-chartered credit union to
- (1) charge-off that portion of an asset classified as loss in the NCUA report of examination or the state report of examination; or
- (2) charge-off all debts owed to the credit union in which interest due has been unpaid for a period of six months unless the debt principal is adequately secured and the credit union is in the process of collection.
(Eff. 10/2/83, Register 87)
Authority: AS 06.01.020, AS 06.45.010