A contract made in the state between borrower and lender, debtor and creditor, or mortgagor and mortgagee, on which the rate of interest is the legal rate of interest specified in AS 45.45.010 or less, by which one party agrees to pay the taxes on the debt, credit, or mortgage existing or entered into between the parties, is legal and valid and is not usurious.
Structure Alaska Statutes
Sec. 45.45.010. Legal rate of interest; prepayment of interest.
Sec. 45.45.020. Higher rate of interest prohibited.
Sec. 45.45.030. Action for recovery of double amount of usurious interest paid.
Sec. 45.45.040. Usurious rate as working forfeiture of entire interest.
Sec. 45.45.050. Recovery by assignee of usurious contract of amount paid.
Sec. 45.45.060. Contract not usurious because of agreement to pay taxes.
Sec. 45.45.070. Enforcement of contracts entered into under AS 45.45.060.