(a) All unclaimed money that is subject to distribution and remains in the receiver’s hands when the receiver is ready to apply to the court for discharge, including the amount distributable to a creditor, shareholder, member, or other person who is unknown and cannot be found, shall be deposited with the Department of Revenue and shall be paid, without interest, to the person entitled to receive it or to the person’s legal representative upon proof satisfactory to the Department of Revenue of the person’s right to it. Notwithstanding the provisions of Alaska Stat. Chapter 34.45, an amount on deposit with the Department of Revenue that is not claimed within six years after the discharge of the receiver is considered to be abandoned and shall, without further proceedings, be deposited in the general fund.
Terms Used In Alaska Statutes 21.78.295
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. 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
(b) All money retained for claims described in Alaska Stat. § 21.78.280 and not distributed, shall, upon discharge of the receiver, be deposited with the Department of Revenue and paid in accordance with Alaska Stat. § 21.78.260. Any amount remaining that, under Alaska Stat. § 21.78.260, would revert to the undistributed assets of the insurer, shall be transferred to the Department of Revenue. Remaining amounts become the property of the state under (a) of this section, unless the director, in the director’s discretion, petitions the court to reopen the liquidation under Alaska Stat. § 21.78.297.
