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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Alaska Statutes Title 6. Banks and Financial Institutions § 06.50.460. Fees - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-6-banks-and-financial-institutions/ak-st-sect-06-50-460/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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