(a) The application must be accompanied by

Terms Used In Alaska Statutes 08.24.140

  • month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(1) if it is an original application, the application fee;
(2) the biennial license fee for a collection agency for the principal place of business and the same amount for each branch office;
(3) a bond running to the state with a surety or sureties to the satisfaction of the department, and conditioned that the licensee shall, within 30 days after the close of each calendar or fiscal month, report and pay to the licensee’s customers the net proceeds due and payable of all collections made during the calendar or fiscal month that exceed $20.
(b) All money collected by an agency belonging to a client shall be deposited in a trust account and cleared at the end of each month. The department may audit any agency transaction.
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