1. (a) Money required to be held in a fiduciary capacity is considered to be clearly identified in a licensee's financial statement if the financial statement identifies that the money is held in a fiduciary capacity.

2. (b) Exempt from the clear identification requirement of this section are financial statements of a licensee that are

   1. (1) prepared for internal use only;
   2. (2) marked conspicuously with the words "For Internal Use Only"; and
   3. (3) used only for purposes internal to the licensee's business.
3. (c) Money required to be held in a fiduciary capacity that is maintained in an account in a financial institution must be clearly identified as a fiduciary account.
4. (d) Repealed 3/30/2003.
5. (e) Repealed 3/30/2003.
6. (f) Failure to comply with (a) or (c) of this section is a violation of AS 21.27.350 and 21.27.360.

(Eff. 8/29/90, Register 115; am 8/4/94, Register 131; am 3/30/2003, Register 165)

Authority: AS 21.06.090, AS 21.27.350, AS 21.27.360