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Title 3 . Commerce, Community, and Economic Development
Chapter 23 . Miscellaneous
Section 640. Commingling

3 AAC 23.640. Commingling

(a) Money other than that allowed by AS 21.27.360 (d) may not be commingled with money held in a fiduciary capacity under AS 21.27.350 .

(b) Service charges may be periodically withdrawn by the financial institution from a licensee's fiduciary account if sufficient money for that purpose, belonging to the licensee as allowed by AS 21.27.360 (d), is maintained in that fiduciary account.

(c) The maintenance in a fiduciary account of money not allowed by AS 21.27.360 (d) is a violation of AS 21.27.360 .

(d) In the absence of an arrangement to pay financial institution service charges from a source other than the fiduciary account, not maintaining in a fiduciary account money that is the property of the licensee in an amount sufficient to pay the monthly service charges of the financial institution is a violation of AS 21.27.360 (b) and (d).

History: Eff. 8/29/90, Register 115; am 3/30/2003, Register 165

Authority: AS 21.06.090

AS 21.27.360

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Last modified 7/05/2006