Sec. 34.45.370. Deposit of money and accounting.

167 words·~1 min read·/ak/title-34/chapter-45/34-45-370

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except as otherwise provided by this section, the department shall promptly deposit in the general fund of the state all money received under AS 34.45.110 — 34.45.780, including the proceeds from the sale of abandoned property under AS 34.45.360 . The department shall retain in a separate trust fund an amount not less than $100,000 from which the department shall make prompt payment of allowed claims. Before making the deposit, the department shall record the name and last known address of each person appearing from the holders' reports to be entitled to the property and the name and last known address of each insured person or annuitant and beneficiary and, with respect to each policy or contract listed in the report of an insurance company, its number, the name of the company, and the amount due. The department shall make the record available for public inspection at all reasonable business hours.

(b)[Repealed, § 28 ch 90 SLA 1991.]