Embezzlement by officers or employees

(a) When an embezzlement or mysterious disappearance of cash, securities, notes, or other assets is discovered in a bank, an immediate report must be made by officers of the bank, providing full disclosure of the circumstances under which it occurred, to (1) the department; (2) the FDIC and the Federal Bureau of Investigation; (3) the nearest office of the Alaska State Troopers; (4) the state district attorney serving the district in which the bank is located; and (5) the bonding company. (b) The officers of the bank shall notify the board of trustees at the next regular or special meeting of the embezzlement or mysterious disappearance of assets and the circumstances under which it occurred.