™Your Policy Risk Impact Agent
24 chapters · 536 sections in this title.
AS 34.80.010 Characterization of escrow money.
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The money that is received by a settlement agent for an escrow transaction is not the property of the settlement agent and is not subject to execution, attachment, or other form of collection for a claim against the settlement agent. Escrow money may not be used for a purpose oth…
AS 34.80.020 Segregation and deposit of escrow money.
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(a) A 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 sin…
AS 34.80.030 Interest on escrow money.
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Notwithstanding any other provision of law, interest may not be collected or paid by a settlement agent on money held for an escrow transaction unless authorized in writing by the parties to the escrow transaction, including the settlement agent.
AS 34.80.040 Disbursement of escrow money.
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(a) A settlement agent may not disburse escrow money unless items that are at least equal in value to the proposed disbursements have been received by the settlement agent for the escrow transaction, have been deposited as required by AS 34.80.020(b), and are available for withdr…