(a) A based on a complaint settlement agent shall segregate on the records of the settlement agent the escrow money from one escrow transaction from all other money, including the escrow money of other escrow transactions. Escrow money from more than one escrow transaction may be deposited into a single depository escrow account.
Terms Used In Alaska Statutes 34.80.020 - Segregation and deposit of escrow money
- 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) A settlement agent shall deposit escrow money in a depository escrow account of a financial institution located in this state.