From hunting in old forums (can not trace here?) believe multi logging sole;y to exchange items in town is okay. Could this be confirmed?

Relevant rule found:
5. DO NOT MULTI-LOG
Multi-logging to power train an alternative character is forbidden (We do know when a proxy IP is being used). However, the only exception to this rule is to transfer items from one character to your alternative character. This must be done in town or clan halls. The transferring of quest items from one character to any other character is not allowed and is a bannable offence. If caught multi-logging in any quest areas such as pents or random dungeons but not limited to, you will be punished.

Spelling your own character by the use of multi-logging, regardless of where either of the alts are found is still illegal.

From thread:
http://aranock.forumotion.net/t561-the-14-commandments

Hello zool. I'm not sure about the rules itself but
you can simply use /transfer name
While holding the item

Rules are still on these forums
http://aranockonline.com/forum/viewtopic.php?t=254
Yes you may multi-log to transfer items however you may not leave the temple or clan hall on either chatacter also /transfer is much faster usually and we prefer you do that.

Did not know about transfer, that a rather handy tip