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https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-850/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.850. Representative office bu... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.850. Representative office business; registration. | (a) An interstate state trust company, interstate national trust company, or international trust company may not provide fiduciary services, but may otherwise engage in trust business, at a representative office as permitted by AS 06.26.810 - 06.26.895.
(b) Subject to the requirements contained in AS 06.26.810 - 06.26.... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-860/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.860. Additional trust offices... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.860. Additional trust offices. | If an interstate state trust company or international trust company maintains a trust office in this state under AS 06.26.810 - 06.26.895, the trust company may establish or acquire additional trust offices or representative offices in this state to the same extent and in the same manner that a trust company may establ... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-870/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.870. Examinations; periodic r... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.870. Examinations; periodic reports; cooperative agreements; assessment o... | (a) When the department considers it necessary to protect the public interest, the department or a competent person designated by the department may examine an interstate state trust company or international trust company that has a trust office or a representative office in the state. The trust company shall pay a fee... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-880/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.880. Enforcement. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.880. Enforcement. | (a) Consistent with AS 06.01.030 and regulations adopted by the department under AS 06.01.030 or this chapter, the department may determine that
(1) an office maintained by an interstate state trust company or international trust company is being operated in violation of a provision of the laws of this state or in an u... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-890/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.890. Notice of subsequent mer... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.890. Notice of subsequent merger, consolidation, or closing. | If an interstate state trust company, interstate national trust company, or international trust company maintains a trust office or a representative office in this state under this chapter, the trust company shall give at least 60 days' prior written notice, or, in the case of an emergency transaction, shorter notice t... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-11/section-06-26-895/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices.›Sec. 06.26.895. Definitions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 11. Interstate State Trust Company, Interstate National Trust Company, and International Trust Company Offices. › Sec. 06.26.895. Definitions. | In AS 06.26.810 - 06.26.895,
(1) “international trust company” means an international trust company whose home office is not located in this state;
(2) “interstate national trust company” means an interstate national trust company whose home office is not located in this state;
(3) “interstate state trust company” mean... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-900/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.900. Powers of department. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.900. Powers of department. | The department may
(1) exercise general supervision over trust companies, interstate trust companies, and international trust companies, and the subsidiaries and affiliated corporations of trust companies, interstate state trust companies, and international trust companies;
(2) in addition to other authority in this ch... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-905/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.905. Cooperative agreements. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.905. Cooperative agreements. | (a) The department may enter into cooperative, coordinating, or information-sharing agreements with other governmental regulators or with an organization affiliated with or representing governmental regulators to handle the periodic examination or other supervision of a trust office that is located in this state and ow... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-910/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.910. Appeals. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.910. Appeals. | (a) A person may appeal to the department
(1) a denial of an application under AS 06.26.090(e);
(2) an order under AS 06.26.120 to increase or adjust capital;
(3) a denial under AS 06.26.150 of a change of the location of a home office under AS 06.26.150;
(4) a denial under AS 06.26.160 of permission for a trust compan... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-920/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.920. Civil enforcement. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.920. Civil enforcement. | The department may bring any appropriate civil court action against a person who the department determines has committed or is about to commit a violation of this chapter. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-930/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.930. Trust company reports to the department; publication of reports. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.930. Trust company reports to the department; publication of reports. | (a) A trust company shall make at least four reports of its condition each year to the department as required by and on forms prescribed by the department. Each report shall be signed by a duly authorized officer of the trust company verified by at least one independent director, and each verifying director shall certi... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-940/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.940. Remedy of person damaged by violation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.940. Remedy of person damaged by violation. | In addition to any other remedies available under law to the person, a person who suffers damages as a result of a violation of this chapter by a person subject to this chapter may bring an action in court against the person violating this chapter to recover the damages. In this section, “person subject to this chapter... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-12/section-06-26-950/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 12. Miscellaneous Provisions.›Sec. 06.26.950. Limitation on powers. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 12. Miscellaneous Provisions. › Sec. 06.26.950. Limitation on powers. | This chapter does not allow a trust company to engage in banking. |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-13/section-06-26-960/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 13. General Provisions.›Sec. 06.26.960. Application of laws relating to general business corporations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 13. General Provisions. › Sec. 06.26.960. Application of laws relating to general business corporations. | (a) Unless expressly authorized by this chapter, a trust company may not take an action that is authorized by AS 10.06 regarding its corporate status, capital structure, or a matter of corporate governance and for which AS 10.06 requires a filing with the department unless the trust company first makes the required fil... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-13/section-06-26-990/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 13. General Provisions.›Sec. 06.26.990. Definitions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 13. General Provisions. › Sec. 06.26.990. Definitions. | (a) In this chapter, unless the context otherwise requires,
(1) “banking” has the meaning given in AS 06.05.990;
(2) “board” means board of directors;
(3) “certificate of authority” means the certificate of authority issued to a corporation under AS 06.26.110;
(4) “chapter” includes regulations adopted under this chapt... |
https://law.justia.com/codes/alaska/title-6/chapter-26/article-13/section-06-26-995/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 26. Revised Alaska Trust Company Act›Article 13. General Provisions.›Sec. 06.26.995. Short title. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 26. Revised Alaska Trust Company Act › Article 13. General Provisions. › Sec. 06.26.995. Short title. | This chapter may be cited as the Revised Alaska Trust Company Act. |
https://law.justia.com/codes/alaska/title-6/chapter-35/section-06-35-010/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 35. Uniform Common Trust Fund Act›Sec. 06.35.010. Common trust funds. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 35. Uniform Common Trust Fund Act › Sec. 06.35.010. Common trust funds. | (a) A bank or trust company that is qualified to act as a fiduciary in this state, or in another state if affiliated with a bank or trust company that is qualified to act as a fiduciary in this state, may establish common trust funds for the purpose of furnishing investments to
(1) itself as fiduciary;
(2) itself and o... |
https://law.justia.com/codes/alaska/title-6/chapter-35/section-06-35-020/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 35. Uniform Common Trust Fund Act›Sec. 06.35.020. Accounting to court. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 35. Uniform Common Trust Fund Act › Sec. 06.35.020. Accounting to court. | Unless ordered by a court of competent jurisdiction, a bank or trust company operating a common trust fund is not required to render a court accounting with regard to the fund. A bank or trust company may, by application to the superior court, secure approval of an accounting it makes with regard to a common trust fund... |
https://law.justia.com/codes/alaska/title-6/chapter-35/section-06-35-030/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 35. Uniform Common Trust Fund Act›Sec. 06.35.030. Procedure for accounting to court. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 35. Uniform Common Trust Fund Act › Sec. 06.35.030. Procedure for accounting to court. | When an accounting of a common trust fund is presented to the superior court under AS 06.35.020 for approval, the court shall assign a time and place for hearing and order notice of the hearing by
(1) publication once a week for three weeks, the first publication to be not less than 20 days before the date of the heari... |
https://law.justia.com/codes/alaska/title-6/chapter-35/section-06-35-040/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 35. Uniform Common Trust Fund Act›Sec. 06.35.040. Uniformity of interpretation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 35. Uniform Common Trust Fund Act › Sec. 06.35.040. Uniformity of interpretation. | This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. |
https://law.justia.com/codes/alaska/title-6/chapter-35/section-06-35-050/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 35. Uniform Common Trust Fund Act›Sec. 06.35.050. Short title. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 35. Uniform Common Trust Fund Act › Sec. 06.35.050. Short title. | This chapter may be cited as the Uniform Common Trust Fund Act. |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-010/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.010. License required. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.010. License required. | Except as provided in AS 06.40.020, a person may not engage in the business of entering into premium finance agreements on insurance sold in this state or risks located in this state, either directly or indirectly, or otherwise act as a premium finance company in this state without being licensed by the department. |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-020/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.020. Applicability. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.020. Applicability. | This chapter does not apply to
(1) an insurer authorized to transact business in this state with respect to premiums on policies that the insurer issues;
(2) a bank, trust company, savings association, or other financial institution subject to the other chapters of this title and authorized to transact business in this... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-030/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.030. Bond. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.030. Bond. | (a) The applicant shall file with the application a bond to be approved by the department in which the applicant is the obligor, in the sum of $5,000 with one or more sureties. The bond shall be for the use of the state and any person who may have a cause of action against the obligor under this chapter. The bond must ... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-040/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.040. Annual license fee. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.040. Annual license fee. | On or before December 20 of each year, each licensee shall pay a fee of $200 to the department as an annual license fee for the next succeeding calendar year. At that same time the licensee shall file with the department a new bond that complies with AS 06.40.030. |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-050/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.050. Application for license; fee; disclosure for child support purposes; interrogatories... | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.050. Application for license; fee; disclosure for child support purposes; interrogatories; refusal to issue or continue license. | (a) Application for a license under this chapter shall be in writing and in the form prescribed by the department. If the applicant is a natural person, the application form must require submission of the applicant's social security number.
(b) All reasonable investigation expenses incurred by the department in process... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-060/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.060. Place of business. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.060. Place of business. | (a) A licensee may maintain only one place of business under a license. The department may issue more than one license to the same licensee upon application and compliance by the licensee with the provisions of this chapter governing the original issuance of a license.
(b) If a licensee changes the place of business to... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-070/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.070. Investigation; qualifications for license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.070. Investigation; qualifications for license. | (a) Upon the filing of an application and payment of the investigation fee specified in AS 06.40.050(b), the commissioner shall conduct an investigation of an applicant and shall issue a premium finance company license if the applicant meets the requirements of this chapter. If the commissioner does not so find, the co... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-1/section-06-40-080/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 1. Licensing.›Sec. 06.40.080. Revocation or suspension of license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 1. Licensing. › Sec. 06.40.080. Revocation or suspension of license. | The commissioner may revoke or suspend the license of any licensee when, upon completion of an investigation, the commissioner determines that
(1) the license issued to the company was obtained by fraud;
(2) there was misrepresentation in the application for the license;
(3) the holder of the license has otherwise prov... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-090/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.090. Misleading statements prohibited; disclosure of interest rate. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.090. Misleading statements prohibited; disclosure of interest rate. | (a) A person may not advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner, any statement or representation with regard to the rates, terms, or conditions for the lending of money, credit, goods, or thin... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-100/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.100. Record keeping; examination of records; report. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.100. Record keeping; examination of records; report. | (a) A licensee shall maintain records of its premium finance transactions, including the insurance agents through which the licensee provides loans to residents of this state, and the records shall be open to examination and investigation by the commissioner at the office of the licensee. All records pertaining to insu... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-110/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.110. Contents of premium finance agreement; deficiency balances. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.110. Contents of premium finance agreement; deficiency balances. | (a) A premium finance agreement must
(1) be dated, signed by the borrower, and the printed portion of it shall be in at least eight-point type;
(2) contain the name and place of business of the insurance agent negotiating the related insurance policy, the name and residence or the place of business of the borrower as s... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-120/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.120. Service charge; interest rate; prepayment. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.120. Service charge; interest rate; prepayment. | (a) A premium finance company may not charge, contract for, receive, or collect a service charge other than as permitted by this chapter.
(b) The service charge is to be computed on the balance of the premiums due, after subtracting the down payment made by the borrower in accordance with the premium finance agreement,... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-130/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.130. Delinquency charge; separate financing. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.130. Delinquency charge; separate financing. | (a) A premium finance agreement may provide for the payment by the borrower of a delinquency charge for any payment that is in default for a period of 10 days or more. The charge may be made for each month or fraction of a month that the payment is in default. The amount of the charge may be a minimum of $1 and as a ma... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-140/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.140. Cancellation of policy. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.140. Cancellation of policy. | (a) When a premium finance agreement contains a power of attorney enabling the licensee to cancel the insurance policy listed in the agreement, the insurance policy may not be cancelled by the licensee unless the cancellation is effectuated under this section.
(b) The licensee shall give not less than 10 days' written ... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-2/section-06-40-150/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 2. Operations.›Sec. 06.40.150. Return of unearned premiums. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 2. Operations. › Sec. 06.40.150. Return of unearned premiums. | (a) If a financed insurance policy is cancelled, and provided the insurer has been notified of the assignment of interest of the insured to the licensee, the insurer shall, within 60 days after the effective date of cancellation, take the steps that are necessary to have any gross unearned premiums that are due under t... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-3/section-06-40-160/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 3. General Provisions.›Sec. 06.40.160. Consequences of violations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 3. General Provisions. › Sec. 06.40.160. Consequences of violations. | (a) A lender who, in the making of any contract, loan, or premium finance agreement or the collection of interest or charges, does any act that violates AS 06.40.010 - 06.40.020, 06.40.090, or 06.40.110 - 06.40.130 shall at the option of the commissioner reimburse that portion of the interest and charges in excess of t... |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-3/section-06-40-170/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 3. General Provisions.›Sec. 06.40.170. Filing not required to perfect validity of agreement. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 3. General Provisions. › Sec. 06.40.170. Filing not required to perfect validity of agreement. | A filing under AS 45.29 of the premium finance agreement is not necessary to perfect the validity of the agreement as a secured transaction against creditors, subsequent purchasers, pledgees, encumbrancers, successors, or assigns. |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-3/section-06-40-180/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 3. General Provisions.›Sec. 06.40.180. Regulations, orders. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 3. General Provisions. › Sec. 06.40.180. Regulations, orders. | The commissioner shall adopt regulations necessary to carry out this chapter, and the commissioner may order any person to cease violation of this chapter or a regulation adopted under it. |
https://law.justia.com/codes/alaska/title-6/chapter-40/article-3/section-06-40-190/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 40. Premium Financing Act›Article 3. General Provisions.›Sec. 06.40.190. Definitions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 40. Premium Financing Act › Article 3. General Provisions. › Sec. 06.40.190. Definitions. | In this chapter, unless the context otherwise requires,
(1) “commissioner” means the commissioner of commerce, community, and economic development or a designee of the commissioner;
(2) “department” means the Department of Commerce, Community, and Economic Development;
(3) “premium finance agreement” means an agreement... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-010/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.010. Responsibility of commissioner. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.010. Responsibility of commissioner. | (a) The commissioner shall administer this chapter.
(b) The commissioner may by regulation define the powers of credit unions formed under this chapter and adopt regulations to carry out the purposes of credit unions consistent with this chapter and AS 06.01.020.
(c) The commissioner may delegate any authority, power, ... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-020/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.020. Formation of credit union. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.020. Formation of credit union. | (a) Seven or more natural persons who desire to form a credit union shall subscribe before an officer competent to administer oaths, articles of incorporation in duplicate that must state
(1) the name of the credit union;
(2) the location of the credit union and the territory in which it will operate;
(3) the names and... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-030/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.030. Approval of articles of incorporation and issuance of certificate of authority. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.030. Approval of articles of incorporation and issuance of certificate of authority. | (a) The articles of incorporation shall be presented to the commissioner for approval. Before the certificate of authority is issued, the commissioner shall determine
(1) whether the articles of incorporation and bylaws conform to the provisions of this chapter and to regulations of the commissioner;
(2) the general ch... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-040/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.040. Fees. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.040. Fees. | (a) The commissioner shall assess a credit union a fee for expenses under AS 06.01.010 in processing an application
(1) for approval of articles of incorporation and bylaws and the issuance of a certificate of authority for a credit union;
(2) for the approval of a branch of a credit union;
(3) for a merger or conversi... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-050/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.050. Reports and examinations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.050. Reports and examinations. | A credit union organized under this chapter is under the supervision of the commissioner and shall make an annual financial report to the commissioner and shall make other financial reports required by regulations adopted by the commissioner. A credit union is subject to examination by the commissioner. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-060/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.060. Powers of a credit union; remedy for interest violations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.060. Powers of a credit union; remedy for interest violations. | (a) A credit union has succession in its corporate name during its existence and may
(1) enter into a contract;
(2) sue and be sued;
(3) adopt, use, and alter a common seal;
(4) purchase, hold, and dispose of property;
(5) make loans, the maturities of which may not exceed 20 years except as provided in this chapter, a... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-070/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.070. Membership. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.070. Membership. | Credit union membership consists of the incorporators and other persons and incorporated and unincorporated organizations, to the extent permitted by regulations adopted by the commissioner, elected to membership. Each member shall subscribe to at least one share of the stock of the credit union and pay the initial ins... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-080/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.080. Meetings of members. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.080. Meetings of members. | The fiscal year of a credit union ends December 31. The annual meeting of a credit union shall be held within three months after the end of the fiscal year at a place its bylaws prescribe. Special meetings may be held under the bylaws. A member may not vote by proxy, but a member other than a natural person may vote th... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-090/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.090. Management of credit union. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.090. Management of credit union. | (a) The business affairs of a credit union are managed by (1) a board of not less than five directors; (2) a credit committee of not less than three members; and (3) a supervisory committee of not less than three members or more than five members. The members of the board of directors shall be elected at the annual mem... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-100/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.100. Compensation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.100. Compensation. | A member of the board of directors or of the credit or supervisory committees may not be compensated for service on the board of directors or credit or supervisory committees. Reasonable health, accident, and similar insurance protection is not compensation under this section and may be provided under regulations adopt... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-110/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.110. Executive officers. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.110. Executive officers. | (a) At its first meeting after the annual meeting of the members, the board of directors shall elect from its membership the executive officers of the credit union.
(b) An executive officer, other than the treasurer, may not be compensated as an officer.
(c) The offices of secretary and treasurer may be held by the sam... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-120/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.120. Board of directors. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.120. Board of directors. | (a) The board of directors shall meet at least once a month and shall have the general direction and control of the business affairs of the credit union. Minutes of all meetings shall be kept.
(b) The board of directors shall
(1) act upon applications for membership;
(2) require an officer or employee having custody of... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-130/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.130. Applications for membership. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.130. Applications for membership. | (a) The board of directors shall establish procedures for the review and approval of applications for membership in the credit union.
(b) Each month the board of directors shall review a list of applications for membership acted on during the preceding month.
(c) If an application for membership is denied, the reasons ... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-140/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.140. Powers and duties of credit committee. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.140. Powers and duties of credit committee. | (a) The credit committee shall hold meetings to consider applications for loans and lines of credit as the business of the credit union may require but not less frequently than once a month. Reasonable notice of the meetings shall be given to members of the credit committee.
(b) Except for the loans or lines of credit ... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-150/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.150. Loan restriction. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.150. Loan restriction. | A loan may not be made to a member if, on the making of the loan, the member would be indebted to the credit union on loans from the credit union in an amount exceeding 10 percent of the unimpaired capital and surplus of the credit union. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-160/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.160. Security. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.160. Security. | For the purposes of loans made under this chapter, an assignment of shares or the endorsement of a note constitutes security, and, subject to regulations adopted by the commissioner, insurance obtained under Title 1 of the National Housing Act is adequate security. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-170/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.170. Powers and duties of supervisory committee; suspension of committee members. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.170. Powers and duties of supervisory committee; suspension of committee members. | (a) The supervisory committee shall conduct an annual audit of the accounts of the credit union and submit a report of the audit to the board of directors and a summary of the audit to the members at the next annual members meeting of the credit union. The supervisory committee may conduct supplementary audits as it co... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-180/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.180. Reserves. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.180. Reserves. | (a) At the end of each accounting period the gross income of the credit union shall be determined. From this amount, there shall be set aside as a regular reserve against losses on loans and against other losses specified in regulations adopted by the commissioner under this chapter sums in accordance with the followin... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-190/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.190. Dividends. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.190. Dividends. | At intervals as the board of directors may authorize and after provision for required reserves, the board of directors may declare, under regulations adopted by the commissioner, a dividend to be paid at different rates on different types of shares and at different rates and maturity dates in the case of share certific... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-200/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.200. Expulsion and withdrawal of members. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.200. Expulsion and withdrawal of members. | A member may be expelled by a two-thirds vote of the members of a credit union present at a special meeting called for the purpose, but only after the member has been given an opportunity to be heard. Withdrawal or expulsion of a member does not discharge the liability of the member to the credit union. The amount to b... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-210/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.210. Minors or trusts. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.210. Minors or trusts. | Shares of a credit union may be issued in the name of a minor or in trust, subject to conditions prescribed by the bylaws. When shares are issued in trust, the name of the beneficiary shall be disclosed to the credit union. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-220/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.220. Suspension, conditional operation, and liquidation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.220. Suspension, conditional operation, and liquidation. | (a) The commissioner, upon a finding that the credit union is bankrupt, insolvent, or is operating in an unsafe or unsound manner or that the credit union has violated the provisions of its articles of incorporation or bylaws, this chapter, or regulations adopted by the commissioner, may exercise the powers granted und... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-230/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.230. Exemption from taxation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.230. Exemption from taxation. | A credit union organized under this chapter, its property, franchises, capital, reserves, surpluses, and other funds, and its income are exempt from taxation by the state or a political subdivision of the state, except that real property and tangible personal property owned by a credit union is subject to taxation to t... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-240/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.240. Conversions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.240. Conversions. | (a) A federal credit union may convert into a credit union organized under this chapter by complying with applicable federal law and by qualifying under this chapter.
(b) A credit union organized under this chapter may convert into a federal credit union by complying with this chapter and by qualifying under federal la... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-250/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.250. Insurance of member accounts. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.250. Insurance of member accounts. | A credit union organized under this chapter shall, under regulations adopted by the commissioner, participate in insurance of member accounts under programs offered by the National Credit Union Administration Board or a program of comparable insurance approved by the commissioner. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-260/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.260. Liquidity facility participation. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.260. Liquidity facility participation. | A credit union organized under this chapter may, under regulations adopted by the commissioner, participate in the programs offered by the National Credit Union Central Liquidity Facility. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-270/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.270. Conflict of interest. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.270. Conflict of interest. | (a) A member of the board of directors or a member of the credit committee or supervisory committee or an employee of a credit union may not participate in the deliberation or the determination of a question affecting the person's own pecuniary interest or the pecuniary interest of a corporation, partnership, or associ... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-280/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.280. Merger. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.280. Merger. | (a) A credit union may merge with another credit union under a plan agreed upon by a majority of the board of directors of each credit union and approved by a majority of the members of each credit union present at meetings called to approve the plan.
(b) The commissioner may by regulation establish further procedures ... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-290/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.290. Branch offices. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.290. Branch offices. | A credit union may establish a branch office under regulations of the commissioner. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-295/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.295. Automated teller machines. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.295. Automated teller machines. | (a) A state credit union may establish, maintain, and operate an automated teller machine on the premises of the main office or a branch office of the state credit union.
(b) A state credit union may establish, maintain, and operate an automated teller machine at a location other than credit union premises by notifying... |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-300/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.300. Unauthorized conduct of credit union business. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.300. Unauthorized conduct of credit union business. | It is a class A misdemeanor for a natural person to conduct business under a name or title that contains the words “credit union” or a derivation of them or to represent to be conducting business as a credit union. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-310/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.310. Transfer of credit union's property to preferred creditor is void. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.310. Transfer of credit union's property to preferred creditor is void. | The transfer of property, money, or assets by a credit union after it becomes insolvent, to prefer one creditor over another, or to prevent the equal distribution of its property and assets among its creditors is void. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-340/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.340. Limitations on credit unions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.340. Limitations on credit unions. | A credit union may not acquire control directly or indirectly of another financial institution or invest in shares, stocks, or obligations of an insurance company, trade association, liquidity facility, or any other similar organization, corporation, or association except as expressly provided by this chapter. |
https://law.justia.com/codes/alaska/title-6/chapter-45/section-06-45-400/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 45. Alaska Credit Union Act›Sec. 06.45.400. Definitions. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 45. Alaska Credit Union Act › Sec. 06.45.400. Definitions. | In this chapter,
(1) “commissioner” means the commissioner of commerce, community, and economic development;
(2) “credit union” means a cooperative association organized in accordance with the provisions of this chapter for the purpose of promoting thrift among its members and creating a source of credit for provident ... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-010/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.010. License required. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.010. License required. | A person, including a person doing business from outside this state, may not engage in the business of making or offering to make deferred deposit advances in this state without having a license under this chapter. A separate license is required for each physical location or Internet website from which the person condu... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-020/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.020. Qualifications for license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.020. Qualifications for license. | (a) To qualify for a license, an applicant shall
(1) have cash assets of at least $25,000, as determined under generally accepted accounting principles, except that an applicant who wants to engage in the business of making advances at more than one location in the state shall have cash assets of at least $25,000 for e... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-030/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.030. Application. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.030. Application. | (a) An application for a license must be in writing and under oath, in a form prescribed by the department by regulation, and include at least
(1) the legal name, residence, and business address of the applicant and, if the applicant is not a natural person, of each member, partner, director, senior officer, or owner o... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-040/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.040. Bond. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.040. Bond. | (a) An applicant for a license shall file with the application a bond
(1) in a form to be approved by the department;
(2) in which the applicant is the obligor; and
(3) in the sum of $25,000 for a business with one location and $50,000 for a business with more than one location.
(b) Only one bond is required for an app... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-050/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.050. Investigation by department. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.050. Investigation by department. | Within 60 days after an applicant files a completed application, the bond, and an application fee, the department shall investigate whether the applicant satisfies the qualifications of AS 06.50.020(a). If the department finds that the applicant satisfies the qualifications, it shall approve the application and issue t... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-060/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.060. Conditions precedent to license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.060. Conditions precedent to license. | The requirements of AS 06.50.030 - 06.50.050 are conditions precedent to the issuance of a license under this chapter. The license permits the applicant to make advances under this chapter at the location specified in the application. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-070/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.070. Duration of license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.070. Duration of license. | A license issued under this chapter is valid for two calendar years. Each license remains in force through the calendar year after the calendar year in which the license was issued unless surrendered, suspended, or revoked under this chapter. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-080/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.080. Renewal of license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.080. Renewal of license. | A license issued under this chapter shall be renewed on or before the date set by the department by submitting to the department a completed renewal application on a form established by the department and paying a nonrefundable renewal fee established by the department, which may not exceed $3,000. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-1/section-06-50-090/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 1. Licensing.›Sec. 06.50.090. Denial of license or renewal. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 1. Licensing. › Sec. 06.50.090. Denial of license or renewal. | (a) If the department determines that an applicant is not qualified to receive a license or a license renewal, the department shall notify the applicant in writing within 20 days that the application has been denied and state the basis for the denial.
(b) The decision of the department to deny an application or a renew... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-2/section-06-50-200/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 2. License Transfer, Assignment, Control, and Change.›Sec. 06.50.200. Transfer or assignment. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 2. License Transfer, Assignment, Control, and Change. › Sec. 06.50.200. Transfer or assignment. | Except for the transfer of a license to a new location under AS 06.50.220, a licensee may not transfer or assign the licensee's license. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-2/section-06-50-210/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 2. License Transfer, Assignment, Control, and Change.›Sec. 06.50.210. Change in control. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 2. License Transfer, Assignment, Control, and Change. › Sec. 06.50.210. Change in control. | The prior written approval of the department is required for the continued operation of a licensee's deferred deposit advance business when a change in control of the licensee is proposed. The department may require the information it considers necessary to determine whether a new application is required. The licensee ... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-2/section-06-50-220/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 2. License Transfer, Assignment, Control, and Change.›Sec. 06.50.220. Change in location or name. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 2. License Transfer, Assignment, Control, and Change. › Sec. 06.50.220. Change in location or name. | A licensee shall notify the department in writing at least 15 days before any proposed change in the licensee's business location or name, and shall provide the department with the information described in AS 06.50.030(a). |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-2/section-06-50-230/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 2. License Transfer, Assignment, Control, and Change.›Sec. 06.50.230. Conduct of other business. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 2. License Transfer, Assignment, Control, and Change. › Sec. 06.50.230. Conduct of other business. | A licensee may conduct other business at a location where it engages in making advances unless it conducts the other business for the purpose of evading or violating the provisions of this chapter. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-3/section-06-50-300/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 3. Department Supervision.›Sec. 06.50.300. Suspension or revocation of license. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 3. Department Supervision. › Sec. 06.50.300. Suspension or revocation of license. | (a) The department may suspend or revoke a license under AS 44.62 (Administrative Procedure Act) if the department finds that
(1) the licensee has failed to pay the license fee, failed to maintain the required bond in effect, or failed to comply with a demand, ruling, or requirement of the department made under this ch... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-3/section-06-50-310/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 3. Department Supervision.›Sec. 06.50.310. Reports to department. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 3. Department Supervision. › Sec. 06.50.310. Reports to department. | (a) On or before March 15 of each year, a licensee shall file with the department a composite annual report for the preceding calendar year in the form prescribed by the department relating to all advances made by the licensee. The department may require that the report be submitted under oath or affirmation, or with n... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-3/section-06-50-320/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 3. Department Supervision.›Sec. 06.50.320. Records. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 3. Department Supervision. › Sec. 06.50.320. Records. | (a) A licensee shall maintain all records relating to this chapter at the location for which the licensee has a license. The records must conform to generally accepted accounting principles and practices in a manner that will enable the department to determine whether the licensee is complying with the provisions of th... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-3/section-06-50-330/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 3. Department Supervision.›Sec. 06.50.330. Examinations and investigations. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 3. Department Supervision. › Sec. 06.50.330. Examinations and investigations. | (a) The department shall examine the business records of a licensee at intervals the department considers appropriate. In addition, for the purpose of discovering violations of this chapter or securing information lawfully required, the department may, at any time, investigate the advances, business transactions, and r... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-400/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.400. Advance agreement. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.400. Advance agreement. | (a) An advance shall be documented in a written agreement that is signed by the advance recipient and on a form approved by the department.
(b) The agreement must clearly and conspicuously disclose
(1) the name of the licensee;
(2) the date of the advance;
(3) the principal amount of the advance;
(4) a statement of the... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-410/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.410. Maximum amount of advances. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.410. Maximum amount of advances. | A licensee, including a licensee with more than one location, may not make advances to an advance recipient that exceed $500 outstanding in advances to the recipient at one time. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-420/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.420. Prohibition on dividing advance amount or increasing number of advances. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.420. Prohibition on dividing advance amount or increasing number of advances. | A licensee may not induce or permit an advance recipient to divide the amount of an advance, or to become obligated, directly, contingently, or both, for more than one advance at the same time, if the purpose or result is to obtain additional origination fees under AS 06.50.460(a)(1). |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-430/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.430. Prohibition on collateral and services. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.430. Prohibition on collateral and services. | The licensee may not accept collateral or services as security for or payment of an advance. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-440/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.440. Duration of advances. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.440. Duration of advances. | The minimum duration of an advance is 14 days. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-450/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.450. Prohibition on advances on behalf of another. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.450. Prohibition on advances on behalf of another. | A licensee may not make an advance to a person who purports to be acting on behalf of another person. |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-460/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.460. Fees. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.460. Fees. | (a) Notwithstanding any other provision of law, except for the fee allowed under AS 06.50.510(b)(3) and where federal law provides otherwise, a licensee may only charge
(1) a nonrefundable origination fee in an amount not to exceed $5; and
(2) a fee that does not exceed $15 for each $100 of an advance, or 15 percent of... |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-470/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.470. Renewal of advance. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.470. Renewal of advance. | (a) The minimum term of a renewal of an advance is 14 days.
(b) A licensee may not renew an advance more than two consecutive times, after which the licensee shall require the advance recipient to repay the advance in full.
(c) A licensee may not renew an advance for fees greater than the fees under AS 06.50.460(a). |
https://law.justia.com/codes/alaska/title-6/chapter-50/article-4/section-06-50-480/ | AK | Justia›US Law›US Codes and Statutes›Alaska Statutes›2023 Alaska Statutes›Title 6. Banks and Financial Institutions›Chapter 50. Deferred Deposit Advances›Article 4. Licensee Practices and Recipient Rescission and Payment.›Sec. 06.50.480. Rescission. | 2023 Alaska Statutes › Title 6. Banks and Financial Institutions › Chapter 50. Deferred Deposit Advances › Article 4. Licensee Practices and Recipient Rescission and Payment. › Sec. 06.50.480. Rescission. | A person who receives an advance may rescind an advance without cause and without cost, except for the nonrefundable origination fee, at any time before the close of business on the business day following the day on which the advance was made by paying the principal amount of the advance to the licensee in cash or othe... |
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