Section 7 AAC 47.350 - Resources(a) Subject to allowable exclusions, to be eligible for assistance under 7 AAC 47.300 - 7 AAC 47.525, the total resources, if any, of an individual described in 7 AAC 47.330 may not exceed (1) $2,000 for the individual; or(2) $3,000 for an individual living with a spouse, regardless of whether or not the spouse is eligible for assistance under 7 AAC 47.300 - 7 AAC 47.525.(b) If an individual has nonexcludable 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.(c) To determine an individual's total resources, the department will apply the provisions of(1)7 AAC 47.355, dealing with excluded resources; and(2)7 AAC 47.357, dealing with the disposal of excess resources.(d) Any cash or other property received from the sale, exchange, or other disposition of a resource retains the character of a resource.Eff. 11/23/80, Register 76; am 6/28/2002, Register 162Authority:AS 47.05.010
AS 47.25.120
AS 47.25.130