15 AAC 23.203 - Assignments

Current through April 6, 2022

(a) The department will not implement an assignment, or a transaction, of whatever nature, that the department determines to be an assignment, of a dividend unless the assignee named is an agency authorized to receive an assignment under AS 43.23.069.
(b) An assignment of a dividend may not be made if application for the dividend was made on behalf of a child or made on behalf of an incompetent or disabled adult, except that the dividend of a child may be assigned to satisfy restitution agreed to, or required under AS 47.12.120 or to satisfy a court-ordered fine or judgment for court-appointed attorney fees.
(c) Once an assignment is made and submitted to the department, a retraction of that assignment by the assignor will not be honored by the department.
(d) An assignment must be made in writing on a form provided by the department, signed by the assignor, and properly executed in the presence of two disinterested witnesses or a notary public, and filed with the department before the final processing of the assignor's dividend application. However, assignments made on behalf of a child must be executed by the sponsor of the original application or by an official appointed by the state court system.
(e) Repealed 1/1/2002.
(f) Upon receipt of a written request from an applicant, the department will change an applicant's University of Alaska College Savings Plan check-off response. The department will not guarantee processing of a request received after August 1 of the dividend year.
(g) If, for purposes of AS 43.23.065(d), April 1 falls on a Saturday, Sunday, or state holiday, the date becomes the next working day.

Notes

15 AAC 23.203
Eff. 1/1/93, Register 124; am 1/1/99, Register 148; am 1/1/2000, Register 152; am 1/1/2002, Register 160; am 1/1/2003, Register 164; am 1/1/2005, Register 172; am 1/1/2013, Register 204

Authority:AS 43.23.015

AS 43.23.055

AS 43.23.065

AS 43.23.069

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