- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 112. Interest.
previous: Section 111
. Place of Payment.
next: Section 113
. Date of Instrument.
AS 45.03.112. Interest.
- (a) Unless otherwise provided in the instrument, an instrument is not payable with interest, and interest on an
interest-bearing instrument is payable from the date of the instrument.
- (b) Interest may be stated in an instrument as a fixed or variable amount of money or it may be expressed as a fixed or
variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and
may require reference to information not contained in the instrument. If an instrument provides for interest but the
amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in
effect at the place of payment of the instrument and at the time interest first accrues.
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