(c) All money paid to the landlord by the tenant as prepaid rent or as a security deposit in a lease or rental agreement shall be promptly deposited by the landlord, wherever practicable, in a trust account in a bank, savings and loan association, or licensed escrow agent, and the landlord shall provide to the tenant the terms and conditions under which the prepaid rent or security deposit or portions of them may be withheld by the landlord. Nothing in this chapter prohibits the landlord from commingling prepaid rents and security deposits in a single financial account; however, the landlord shall separately account for prepaid rent and security deposits received from each tenant. The landlord may not commingle prepaid rent and security deposits with other funds. The landlord may not use money held for one tenant in a trust account to
(1) refund the security deposit of another tenant;
(2) apply to the payment of another tenant's accrued rent;
(3) apply to damages suffered by the landlord because of another tenant's noncompliance with AS 34.03.120.
(d) If the landlord wilfully fails to comply with (b) of this section, the tenant may recover an amount not to exceed twice the actual amount withheld.
(e) This section does not preclude a landlord or tenant from recovering other damages to which either may be entitled under this chapter.
(f) The holder of the landlord's interest in the premises at the time of the termination of the tenancy is bound by this section.