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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 3.23.590. Receipt of fiduciary money.  

Latest version. 
  • 	(a)  Within 24 hours after receipt, a licensee who receives money in a fiduciary capacity shall document that money in sufficient detail to determine, at a minimum, the date received, name of the payee, and amount. If the licensee receives cash, the licensee shall give the payer a detailed receipt at the time of payment. The detailed receipt must include the date received, amount received, payer name, payee name, and purpose of payment, and any other information important to the transaction.  
	(b)  A licensee shall maintain detailed receipt records as records of a transaction under the requirements of AS 21.27.350(b).  
	(c)  Repealed 3/30/2003.  
	(d)  Repealed 3/30/2003.  
	(e)  Failure to comply with (a) of this section is a violation of AS 21.27.350 and 21.27.360.  
	(f)  Repealed 3/30/2003.

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