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7 AAC 40.260. Resources. (a) In this chapter, “resources” means any real or personal property that an applicant, together with his or her spouse under 7 AAC 40.240, owns and can convert to cash to be used for his or her support and maintenance. (b) Any cash or other property received from the sale, exchange, or other disposition of a resource retains the character of a resource. (Eff. 5/12/82, Register 82; am 4/6/91, Register 118) Statutory Authority: Authority: AS 47.05.010 AS 47.25.435

AS 47.25.430 AS 47.25.460 7 AAC 40.270. Resource limits. (a) To be eligible for assistance, an applicant, together with his or her spouse under 7 AAC 40.240, must have non-excludable resources which do not exceed

(1) $2,000 for an individual; or

(2) $3,000 for an individual living with a spouse, whether or not the spouse is otherwise eligible for assistance. (b) If an applicant has non-excludable resources that do not exceed the applicable resource limit at any time on the first day of a calendar month, the applicant is considered to meet the resource requirement for that month. (Eff. 5/12/82, Register 82; am 9/30/83, Register 87; am 4/6/91, Register 118) Statutory Authority: Authority: AS 47.05.010 AS 47.25.435