Sec. 06.65.220. Preparation and filing.
In addition to the other reporting requirements of this chapter, a financial contractor shall prepare and file the statements, program account information, and other information as required by state and federal law and state and federal agencies.
Sec. 06.65.230. Separate accounting.
A financial contractor shall provide separate accounting for each program account established with the financial contractor.
Sec. 06.65.240. Annual fee.
A financial contractor may impose an annual fee as may be established by the department on the program account owner for the maintenance of a program account.
Sec. 06.65.250. Use as security.
A person may not use a program account or an interest in a program account as security for a loan. If a person pledges a program account or an interest in a program account as security for a loan, the pledge is void.
Sec. 06.65.100. Eligible individuals.
To be eligible for a program account, when an individual or the individual’s representative establishes the program account or makes a distribution to another program account under AS 06.65.200, the individual must be (1) entitled to benefits based on blindness or disability under 42 U.S.C. 401 – 434 or 42 U.S.C. 1381 – 1383f, and […]
Sec. 06.65.110. Representative of eligible individual.
(a) A person may act as the representative of an eligible individual under this chapter if the eligible individual is a minor or lacks decision-making capacity and if the person is (1) a parent, guardian, or conservator of the eligible individual; in this paragraph, (A) “conservator” has the meaning given in AS 13.06.050; (B) “guardian” […]
Sec. 06.65.120. Program account ownership.
(a) The owner of a program account is the designated beneficiary of the program account. (b) If a representative of an eligible individual establishes a program account for an eligible individual, the representative is not an owner of the program account and does not have or acquire an interest in the assets of the program […]
Sec. 06.65.010. Program authorized.
The Alaska savings program for eligible individuals is created in the department. The department shall implement and administer the program under this chapter and as required by the federal authorizing law.
Sec. 06.65.020. General department duties.
(a) To implement and administer the program, the department shall, in addition to the other powers and duties provided to the department under this chapter, (1) develop, set, and approve the terms and conditions of the program, consistent with this chapter and the federal authorizing law, including limiting the nature and amount of contributions that […]
Sec. 06.65.030. Modification of program.
Consistent with this chapter and the federal authorizing law, the department may modify the terms and conditions of the program as the department considers necessary or desirable for the effective and efficient operation of the program.