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Effective July 1, 2022, Executive Order 121 split the former Department of Health and Social Services into the Department of Health and the Department of Family and Community Services. As of Register 242 (July 2022), the regulations attorney made conforming technical revisions under sec. 138, E.O. 121 and AS 44.62.125(b)(6), to the authority citation for 7 AAC 75.305 by substituting references to AS 47.32.010 and 47.32.030 for the references to former AS 47.33.410 and 47.33.920 (repealed 2005). 7 AAC 75.310. Acceptance and management of residents’ money. (a) Before an assisted living home accepts the money of a resident for safekeeping and management, the home shall obtain written authorization from the resident or the resident’s representative or representative payee. The authorization must
(1) be attested to by a competent witness who has no pecuniary interest in the home or its operations, and who is not connected to the home or its operations in any manner;
(2) indicate exactly which or how much of the resident’s money the assisted living home is authorized to manage; and
(3) provide for an amount not to exceed $100 a month that the assisted living home may keep on hand for the resident to use to meet that resident’s day-to-day needs, unless the resident has other sources of money for that purpose. (b) A home shall establish a system for residents to request withdrawals from the daily-needs money that the home controls. The home shall advise the resident of the available balance of the daily-needs money at the time of each withdrawal and shall keep a record of all withdrawals and balances. (c) After receiving authorization from the resident or resident’s representative to manage the resident’s money for the resident, the assisted living home shall
(1) promptly deposit all of the resident’s money that the home is authorized to manage, except the money in the resident’s daily needs fund, in an interest-bearing designated trust account in a bank, savings and loan association, or licensed escrow agent, insured by the Federal Deposit Insurance Corporation (FDIC), separate from other money and property of the home; and
(2) provide in writing to the resident, or the resident’s representative, the account number and the name and address of the financial institution in which the resident’s money has been deposited. (d) An assisted living home that is authorized to manage the money of more than one resident may deposit it in a common designated residents’ trust account only if the home has the capability of tracking the account activity specific to each resident, and then issuing a detailed statement of each resident’s money to those residents whose money is commingled in the same account. Those statements shall be provided at least quarterly.