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 Alaska Administrative Code (Last Updated: January 12, 2017)
 Title 3. Commerce, Community, and Economic Development.
 Part 3.1. Banking, Securities, Small Loans and Corporations.
 Chapter 3.23. Producers, Managing General Agents, Surplus Lines Brokers, Reinsurance Intermediary Managers, Reinsurance Intermediary Brokers, Third Party Administrators, and Independent Adjusters.
 Article 3.23.1. Licensing Requirements.

  Section 3.23.580. Identification of money as fiduciary assets.  

Latest version. 
  • 	(a)  Money required to be held in a fiduciary capacity is considered to be clearly identified in a licensee's financial statement if the financial statement identifies that the money is held in a fiduciary capacity.  
	(b)  Exempt from the clear identification requirement of this section are financial statements of a licensee that are  
		(1) prepared for internal use only;  
		(2) marked conspicuously with the words "For Internal Use Only"; and  
		(3) used only for purposes internal to the licensee's business.  
	(c)  Money required to be held in a fiduciary capacity that is maintained in an account in a financial institution must be clearly identified as a fiduciary account.  
	(d)  Repealed 3/30/2003.  
	(e)  Repealed 3/30/2003.  
	(f)  Failure to comply with (a) or (c) of this section is a violation of AS 21.27.350 and 21.27.360.

Authorities

21.06.090;21.27.350;21.27.360

Notes


Authority
AS 21.06.090 AS 21.27.350 AS 21.27.360
History
Eff. 8/29/90, Register 115; am 8/4/94, Register 131; am 3/30/2003, Register 165