§ 54-109.105. What information deemed confidential; disclosure; certain information deemed public; exchange of information. - North Carolina Statutes

Article14M.

Confidential Information.

§ 54‑109.105.  Whatinformation deemed confidential; disclosure; certain information deemed public;exchange of information.

(a)        The followingrecords of information of the credit union division, the Administrator or theagent(s) of either shall be confidential and shall not be disclosed:

(1)        Information obtainedor compiled in preparation of, during, or as a result of an examination, auditor investigation of any credit union;

(2)        Informationreflecting the specific collateral given by a named borrower, or specificwithdrawable accounts held by a named member;

(3)        Informationobtained, prepared or compiled during or as a result of an examination, auditor investigation of any credit union by an agency of the United States, if therecords would be confidential under federal law or regulation;

(4)        Information andreports submitted by credit unions to federal regulatory agencies, if therecords or information would be confidential under federal law or regulation;

(5)        Information andrecords regarding complaints from the members received by the division whichconcern credit unions when the complaint would or could result in aninvestigation, except to the management of those credit unions;

(6)        Any other letters,reports, memoranda, recordings, charts or other documents or records whichwould disclose any information of which disclosure is prohibited in thissubsection.

(b)        A court ofcompetent jurisdiction may order the disclosure of specific information.

(c)        The informationcontained in an application for a new credit union shall be deemed to be publicinformation.

(d)        Nothing in thisArticle shall prevent the exchange of information relating to credit unions andthe business thereof with the representatives of the agencies of this State,other states, or of the United States, or with reserve or insuring agencies forcredit unions.  Nothing in this Article shall prevent the Administrator, in hisdiscretion, from disclosing pertinent information relating to a credit union andthe business thereof with directors, officers, or members of the credit union. The private business and affairs of an individual or company shall not bedisclosed by any person employed by the credit union division, or by any personwith whom information is exchanged under the authority of this subsection.

(e)        Any official oremployee violating this section shall be liable to any person injured bydisclosure of such confidential information for all damages sustained thereby. Penalties provided shall not be exclusive of other penalties.

(f)         The willful orknowing violation of the provisions of this Article by any employee of thecredit union division shall be a Class 1 misdemeanor. (1981,c. 512; 1993, c. 539, s. 429; 1994, Ex. Sess., c. 24, s. 14(c).)