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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 20. Alaska Small Loans Act
- Section 10. License Required.
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. Alaska Small Loans Act
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. Application For License; Disclosure For Child Support Purposes.
AS 06.20.010. License Required.
- (a) A person may not engage in the business of making loans of money, credit, goods, or things in action in the amount or
of the value of $25,000 or less and charge, contract for, or receive on the loan a greater rate of interest, discount,
or consideration than the lender would be permitted by law to charge if the person were not a licensee under this
chapter, except as authorized by this chapter and without first obtaining a license from the department.
- (b) A person who is doing business under and as permitted by any law of the state or of the United States relating to
banks, savings banks, trust companies, building and loan associations, or credit unions and who is exempt from the
licensing requirement in (a) of this section shall comply with all other provisions of this chapter.
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