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Alaska Statutes.
Title 45. Trade and Commerce
Chapter 35. Lease-Purchases of Personal Property
Section 30. Late Fees.
previous: Section 20. Maintenance and Warranties.
next: Section 40. Prohibited Provisions.

AS 45.35.030. Late Fees.

(a) A lessor may not charge a consumer more than $5 for each payment that is late under a lease-purchase agreement.

(b) When calculating time for the purpose of determining whether a lease payment is late and subject to a late fee under a lease-purchase agreement, a lessor may not include any period of time when the personal property has been repossessed by the lessor or voluntarily surrendered by the consumer.


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Last modified 9/3/2005