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(b) Service charges may be periodically withdrawn by the financial institution from a licensee's fiduciary account if sufficient money for that purpose, belonging to the licensee as allowed by AS 21.27.360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.
(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
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Last modified 7/05/2006