Made available by Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.

You can also go to The Alaska Legal Resource Center or search the entire website search.

Touch N' Go, the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.
Title 3 . Commerce, Community, and Economic Development
Chapter 23 . Miscellaneous
Section 800. Collateral; fiduciary relations

3 AAC 23.800. Collateral; fiduciary relations

(a) A licensee or surety who receives collateral in connection with a bail bond transaction shall receive the collateral in a fiduciary capacity. Until the forfeiture of bail, the licensee or surety must keep the collateral separate from any other funds or assets of the licensee or surety.

(b) Cash collateral must be maintained in accordance with AS 21.27.360 and 3 AAC 23.500 - 3 AAC 23.730.

(c) If a licensee or surety receives as collateral a document that conveys title to a lien on real property, that document must state on its face that it is executed as part of a security transaction. If that document is recorded, a conveyance of the property, executed in such a manner that it may also be recorded, must be delivered by the licensee or surety to the person executing the original conveyance or to that person's heir, legal representative, or successor in interest. Within 10 working days after notice of the exoneration of the bond in writing by the court, the licensee shall make the document available at the licensee's principal place of business or mail it upon request.

History: Eff. 12/18/92, Register 124

Authority: AS 21.06.090

AS 21.27.360


Note to HTML Version:

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006