Section 3.23.600. Timely disbursal of premiums.

Latest version.

	(a)  After the receipt of money in a fiduciary capacity, a licensee shall  
		(1) return the money received as a premium deposit to the client if coverage is not obtained within 10 working days;  
		(2) complete the processing of a refund received from the insurer within the time limits outlined in AS 21.36.220(c)(1) and 21.36.255(a)(2)(A) and (B) by either  
			(A) disbursing money to the insured to whom it is owed; or  
			(B) notifying the insured of the application of a refund under 3 AAC 23.680; or  
		(3) investigate fiduciary money held for more than 120 days and pay the money to the person entitled to the money.  
	(b)  Failure to comply with (a) 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;21.36.220;21.36.255

Notes

Reference

3 AAC 23.680

Authority
 AS 21.06.090  
AS 21.27.350  
AS 21.27.360  
AS 21.36.220  
AS 21.36.255  
History Eff. 8/29/90, Register 115; am 8/4/94, Register 131; am 3/30/2003, Register 165

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');