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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 50. Deferred Deposit Advances
- Section 460. Fees.
previous: Section 450
. Prohibition On Advances On Behalf of Another.
next: Section 470
. Renewal of Advance.
AS 06.50.460. Fees.
- (a) Notwithstanding any other provision of law, except for the fee allowed under AS 06.50.510
(b)(3) and where federal law provides otherwise, a licensee may only charge
- (1) a nonrefundable origination fee in an amount not to exceed $5; and
- (2) a fee that does not exceed $15 for each $100 of an advance, or 15 percent of the total amount of the advance,
whichever is less.
- (b) A licensee may not charge a fee other than the fees allowed under (a) of this section.
- (c) The fees allowed by (a) of this section are considered earned at the time of the transaction and may not be prorated.
- (d) A licensee may not charge the advance recipient an additional fee to access the proceeds of an advance.
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