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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 20. Alaska Small Loans Act
- Section 300. Maximum Charges By Nonlicensee On Loans.
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. Purchase of Wages or Other Compensation For $25,000 or Less.
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. Effect of Illegal Interest Rate.
AS 06.20.300. Maximum Charges By Nonlicensee On Loans.
- (a) Except as authorized in this chapter, a person may not directly or indirectly charge, contract for, or receive any
interest, discount, or consideration greater than that which the person would be permitted by law to charge if the
person were not a licensee, upon the loan, use, or forbearance of money, goods, or things in action, or upon the loan,
use, or sale of credit of the amount or value of $25,000 or less.
- (b) The provisions of (a) of this section apply to any person who, by any device, subterfuge, or pretense whatsoever
charges, contracts for, or receives greater interest, consideration, or charges than are authorized by this chapter.
Article 05. GENERAL PROVISIONS
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