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Title 3 . Commerce, Community, and Economic Development
Chapter 23 . Miscellaneous
Section 280. Operating funds to finance premiums

3 AAC 23.280. Operating funds to finance premiums

A licensee may use only operating funds to finance premiums. By the close of business on the day the loan is made, the licensee shall deposit the amount loaned to a borrower and the down payment paid by the borrower in the licensee's fiduciary account. The licensee may not deliver loan proceeds to the borrower.

History: Eff. 4/22/79, Register 70; am 3/11/98, Register 145

Authority: AS 21.06.090

AS 21.36.122


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Last modified 7/05/2006