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(a) A claimant who obtains final judgment against a contractor may tender to the commissioner a certified copy of the final judgment with the request that payment be made upon the judgment from the proceeds of the cash deposit.
(b) To be paid from the cash deposit, a final judgment must be a judgment against the cash deposit. A judgment will be considered to be one against the cash deposit under AS 08.18.081 (b) if it is rendered on a claim for one of the items specified in AS 08.18.071 , and either the complaint or the final judgment identifies the cash deposit as the source of payment of the claim.
(c) To be paid from the cash deposit, the judgment must show for which item or items referred to in AS 08.18.071 judgment is entered and when the claim arose.
(d) If at the time the commissioner receives the first final judgment on a pending claim against a contractor other claims are pending, the commissioner will immediately disburse the proceeds of the cash deposit to satisfy that judgment only if
(1) the total amount of all claims pending on the date the first judgment is received is less than the amount of the cash deposit; or
(2) all claims pending on the date the first judgment is received are of lower priority than the claim reduced to judgment.
(e) If, at the time the commissioner receives the first final judgment on a pending claim against a contractor, the total amount of other pending claims exceeds the amount of the cash deposit or the judgment is rendered on a claim having lower priority than other pending claims, the commissioner will not disburse the proceeds of the cash deposit to satisfy any judgment until all pending claims are reduced to judgment or withdrawn from the commissioner's file. In this circumstance, claims received by the commissioner after receipt of the first final judgment will not be considered for payment until all previously pending claims have been satisfied or withdrawn. The later received claims will then be considered for payment from the remaining proceeds of the cash deposit, if any, in the same manner as if the previously pending claims had not existed.
(f) If a person making a claim which has lower priority than other pending claims submits a final judgment and the other pending claims of higher priority are not resolved by judgment or settlement or by being withdrawn, the person who has reduced his or her claim to judgment may establish a presumption of failure to prosecute the other claims. That presumption may be established by filing with the commissioner
(1) a written request to establish the presumption; and
(2) proof that he or she has mailed a copy of the request by certified mail to the last known address of the claimant (or attorney when the claimant is represented) with higher priority.
(g) The commissioner will place a copy of a request submitted under (f) of this section in the file open for public inspection. If the claimant named in the request as presumed not to be prosecuting his or her claim does not notify the commissioner within 60 days after the request is placed in the file that he or she is still pursuing his or her claim against the contractor, the commissioner will, in his discretion, disburse the proceeds of the cash deposit according to the procedures set out in this section.
(h) When multiple pending claims which exceed the total amount of the cash deposit are to be satisfied, those claims will be satisfied in the order of priority established under AS 08.18.081 (a). Claims having equal priority under the statute will be satisfied according to the proportion that each judgment bears to the sum of all the judgments of that class of priority.
(i) If a final judgment is tendered by a claimant who has not complied with the provisions of 12 AAC 21.130, or if a final judgment upon confession of judgment without action is tendered, the commissioner will place a copy of the judgment in the record, available for public inspection, of all suits commenced. The judgment will not be considered properly tendered for payment from the proceeds of the cash deposit until 30 days after the date of receipt by the commissioner, and other claims filed with the commissioner within the 30 days will be considered pending as of the effective date of the tender of judgment.
History: Eff. 5/2/81, Register 78
Authority: AS 08.18.071
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Last modified 7/05/2006