Section 7 AAC 47.357 - Disposal of excess resources(a) If the nonexcludable resources of an otherwise eligible applicant exceed the resource limits of 7 AAC 47.350, assistance will be provided if the applicant enters into an agreement with the (1) Social Security Administration under 20 C.F.R. 416.1240 - 20 C.F.R. 416.1244 to dispose of the excess resources and to repay SSI benefits; and(2) department to repay assistance provided during the duration of the SSI agreement, in the amount of the proceeds of the disposal less the amount repaid to SSI or the assistance provided, whichever is smaller.(b) If the nonexcludable resources of an otherwise eligible applicant whose income exceeds SSI standards exceed the resource limits of 7 AAC 47.350 and the applicant has, in cash or negotiable instruments, no more in nonexcludable resources than three times the monthly SSI payment standard for an eligible individual, or eligible couple if living with a spouse, assistance will be provided if the applicant enters into an agreement(1) with the department to dispose of the excess resources at their current market value within nine months for real property or within three months for personal property; the department may extend the three-month period to dispose of personal property by an additional three months if circumstances beyond the applicant's control prohibit disposal; and(2) to repay the assistance provided during the time the agreement is in effect or the proceeds of the disposal, whichever is less.Eff. 6/28/2002, Register 162Authority:AS 47.05.010
AS 47.25.120
AS 47.25.130
AS 47.25.230
AS 47.25.240
AS 47.33.920