Sec. 08.18.115. Return of cash deposit.

251 words·~1 min read·/ak/title-8/chapter-18/08-18-115·

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

(a)A contractor or home inspector who has filed a cash deposit and who ceases doing business as a contractor or home inspector may request the return of as much of that cash deposit as is held by the commissioner by

(1)filing a notarized statement with the commissioner that the contractor or home inspector has ceased doing business as a contractor or home inspector, as applicable; and

(2)filing a notarized statement with the commissioner at least three years after filing the statement in

(1)of this subsection that

(A)requests return of the cash deposit;

(B)certifies that the former contractor or home inspector has not been engaged in business as a contractor or home inspector, as applicable, for at least three years; and

(C)certifies that to the best of the contractor's or home inspector's knowledge no action has been commenced upon the cash deposit that has not been dismissed or reduced to a final judgment that has been satisfied.

(b)The commissioner, after paying any judgments against the cash deposit under AS 08.18.081 (b), shall return the remainder of a former contractor's or former home inspector's cash deposit to the contractor or home inspector, as applicable, if

(1)the former contractor or former home inspector has complied with

(a)of this section; and

(2)no action has been commenced upon the cash deposit that has not been dismissed or reduced to a final judgment that has been satisfied.

Article 3. Enforcement.