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 other immediately available funds.
Structure 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.
Sec. 06.50.410. Maximum amount of advances.
Sec. 06.50.420. Prohibition on dividing advance amount or increasing number of advances.
Sec. 06.50.430. Prohibition on collateral and services.
Sec. 06.50.440. Duration of advances.
Sec. 06.50.450. Prohibition on advances on behalf of another.
Sec. 06.50.470. Renewal of advance.
Sec. 06.50.480. Rescission.
Sec. 06.50.490. Prohibited arbitration requirement.
Sec. 06.50.500. Posted fee notice.
Sec. 06.50.510. Required disclosures before disbursement.
Sec. 06.50.520. Payment by licensee.
Sec. 06.50.530. Payment by advance recipient.