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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 12. Professional Regulations. |
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Part 12.1. Boards and Commissions Subject to Centralized Licensing. |
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Chapter 12.64. Real Estate Commission. |
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Article 12.64.2. Licensing. |
Section 12.64.111. Closing an office.
Latest version.
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(a) Before closing an office or branch office, a broker shall submit to the commission (1) a completed form for closing an office as prescribed by the commission; (2) a bank statement showing a zero balance in the trust accounts or appropriate trust funds documentation; (3) the name, address, and phone number of the custodian of records and the location where the transaction record of brokerage for the last three years may be accessed; and (4) a competed form for license transfer or change of status as required under AS 08.88.301 and 12 AAC 64.075. (b) A broker shall maintain a trust account until the broker has distributed all the money due to be received to the proper person or entity or until the transaction, for which money is due to be received, is transferred to another brokerage.
Authorities
08.88.081;08.88.301