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(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(d) Repealed 3/30/2003.
(e) Repealed 3/30/2003.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.
History: Eff. 8/29/90, Register 115; am 8/4/94, Register 131; am 3/30/2003, Register 165
Authority: AS 21.06.090
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Last modified 7/05/2006