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(e) When managing the money of a resident, the assisted living home shall, in accordance with the resident’s assisted living plan, spend money only to meet the needs of the resident. (f) When managing the money of residents through deposits in separate trust accounts, the assisted living home shall

(1) provide each resident or the resident’s representative with a copy of each written account statement from the financial institution in which the money has been deposited; and

(2) provide each resident or the resident’s representative, without charge, a written, itemized statement, at least quarterly, of all financial transactions involving the resident’s money being managed by the home. (g) Upon a written request by the resident or the resident’s representative, the assisted living home shall return to the resident or the resident’s representative, within three business days, as much of the resident’s money as requested, including any interest accrued from deposits. The money may be returned by means of a check. (h) Upon a voluntary or involuntary termination of the resident’s assisted living contract, the assisted living home shall, within three business days, return to the resident or the resident’s representative at least 90 percent of the resident’s money, less any accrued charges, whether the money is in a designated trust account or in the resident’s daily-needs account. The home shall return all remaining money belonging to the resident within 60 calendar days after termination of the contract. (i) An assisted living home shall provide a complete accounting of the resident’s money to the personal representative, as defined in AS 13.06.050, of a resident’s estate within 30 days after the resident’s death. In the absence of a personal representative, the home shall provide the accounting and the deceased resident’s assets to the public administrator appointed under AS 22.15.310. (j) If a home or the entity operating the home is sold, the home shall provide the buyer with written verification of all resident money the home is authorized to manage and obtain a signed receipt for such money from the new owner. (Eff. 7/1/95, Register 134) Statutory Authority: Authority: AS 47.32.010 AS 47.32.030 AS 47.33.040 Editor’s note: Effective July 1, 2022, Executive Order 121 split the former Department of Health and Social