15 AAC 23.243 - Interest
(a) Dividends held in trust by a public
agency in accordance with
AS
43.23.015(e) will be
invested by the department together with other money under
AS
37.10.070. No separate investment accounts
for individual applicants will be maintained. Monies held in trust and invested
will be paid interest at the average rate earned by all money invested in
accordance with
AS
37.10.070 from the date the application is
approved and processed for payment by the department to the date the claim for
payment of the money is filed by or on behalf of the individual on whose behalf
the public agency filed.
(b) Except
as provided in (c) of this section, interest accrues on assessments of
disallowed dividend payments at the rate established in
AS
45.45.010 on the balance of the dividend
owing.
(c) Interest does not
accumulate on an assessment of a disallowed dividend if the dividend is repaid
within 60 days after the determination of disallowance becomes final.
Notes
Authority:AS 43.23.015
AS 43.23.055
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