Section 47.10.115. Permanent fund dividend.

   (a) The department shall annually apply for a permanent fund dividend and retain in trust under AS 43.23.015(e) for the benefit of the child the dividend and accrued interest on the dividend if the child is in the custody of the department when the application is due.
   (b) The department shall distribute the proceeds of a trust under this section
        (1) to the child when the child
             (A) has reached 21 years of age; or
             (B) is no longer in the custody of the department and has reached at least 18 years of age or is emancipated; or
        (2) when ordered to do so by the court in the best interest of the child.
   (c)  [Repealed, Sec. 14 ch. 7, SLA 2016]. 

Notes

Recent Bills that will modify this

HB 365 INCOME TAX; PERMANENT FUND TAX CREDIT
SB 104 PERSON W/DISABILITY SAVINGS ACCOUNTS

History

(Sec. 7 ch 20 SLA 2006; am Sec. 30 ch 53 SLA 2008; am Sec. 7, 14 ch 7 4SSLA 2016)