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03 AAC 23.600. Timely Disbursal of Return Premiums (a) A licensee shall, within 45 days after the receipt of a refund, complete the processing of a refund received from the insurer by either (1) disbursing money to the insured to whom it is owed; or (2) notifying the insured of the application of a refund under 3 AAC 23.680. (b) Failure to comply with (a) of this section is a violation of AS 21.27.350 and 21.27.360. Authority: AS 21.06.090 AS 21.27.350 AS 21.27.360 |