3 AAC 20.120. Repurchases, refunds, referrals

It is an unfair act or practice for a person

(1) to represent to a purchaser or a prospective purchaser that the developer will buy back, resell, list, or otherwise dispose of purchased property, unless it is true;

(2) to induce a purchaser or prospective purchaser to buy land or execute a contract, agreement, option for consideration, or other evidence of indebtedness on the basis that if the purchaser is not satisfied, a refund will be made, unless this is true;

(3) to represent or promise a commission, bonus, discount, reward, override, or prize for referring other purchasers to the developer, where the promise or representation is similarly made to those referred.

History: Eff. 4/3/76, Register 58

Authority: AS 34.55.020

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