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...

Sec. 06.50.020. Qualifications for license. - (a) To qualify for a license, an applicant shall (1)...

Sec. 06.50.030. Application. - (a) An application for a license must be in writing...

Sec. 06.50.040. Bond. - (a) An applicant for a license shall file with the...

Sec. 06.50.050. Investigation by department. - Within 60 days after an applicant files a completed application,...

Sec. 06.50.060. Conditions precedent to license. - The requirements of AS 06.50.030 - 06.50.050 are conditions precedent...

Sec. 06.50.070. Duration of license. - A license issued under this chapter is valid for two...

Sec. 06.50.080. Renewal of license. - A license issued under this chapter shall be renewed on...

Sec. 06.50.090. Denial of license or renewal. - (a) If the department determines that an applicant is not...

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...

Sec. 06.50.210. Change in control. - The prior written approval of the department is required for...

Sec. 06.50.220. Change in location or name. - A licensee shall notify the department in writing at least...

Sec. 06.50.230. Conduct of other business. - A licensee may conduct other business at a location where...

Article 3. Department Supervision.

Sec. 06.50.300. Suspension or revocation of license. - (a) The department may suspend or revoke a license under...

Sec. 06.50.310. Reports to department. - (a) On or before March 15 of each year, a...

Sec. 06.50.320. Records. - (a) A licensee shall maintain all records relating to this...

Sec. 06.50.330. Examinations and investigations. - (a) The department shall examine the business records of a...

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...

Sec. 06.50.410. Maximum amount of advances. - A licensee, including a licensee with more than one location,...

Sec. 06.50.420. Prohibition on dividing advance amount or increasing number of advances. - A licensee may not induce or permit an advance recipient...

Sec. 06.50.430. Prohibition on collateral and services. - The licensee may not accept collateral or services as security...

Sec. 06.50.440. Duration of advances. - The minimum duration of an advance is 14 days.

Sec. 06.50.450. Prohibition on advances on behalf of another. - A licensee may not make an advance to a person...

Sec. 06.50.460. Fees. - (a) Notwithstanding any other provision of law, except for the...

Sec. 06.50.470. Renewal of advance. - (a) The minimum term of a renewal of an advance...

Sec. 06.50.480. Rescission. - A person who receives an advance may rescind an advance...

Sec. 06.50.490. Prohibited arbitration requirement. - A licensee may not require a recipient to agree to...

Sec. 06.50.500. Posted fee notice. - A licensee shall post a notice in each business location...

Sec. 06.50.510. Required disclosures before disbursement. - (a) Before disbursing funds under an advance, a licensee shall...

Sec. 06.50.520. Payment by licensee. - (a) A licensee may give an advance recipient the amount...

Sec. 06.50.530. Payment by advance recipient. - (a) An advance recipient may repay an advance (1) in...

Sec. 06.50.540. Default fees. - If a payment received from an advance recipient is returned...

Sec. 06.50.550. Collection or court action after default. - (a) If an advance recipient defaults, before assigning the payment...

Sec. 06.50.560. Threat of criminal action prohibited. - A licensee may not threaten an advance recipient with criminal...

Article 5. Miscellaneous Provisions.

Sec. 06.50.600. Regulations. - The department may adopt regulations under AS 44.62 (Administrative Procedure...

Sec. 06.50.610. Relationship to federal and other state law. - (a) If a provision of this chapter is preempted by...

Article 6. General Provisions.

Sec. 06.50.900. Definitions. - In this chapter, unless the context requires otherwise, (1) “advance”...