Sec. 06.50.420. Prohibition on dividing advance amount or increasing number of advances.
A licensee may not induce or permit an advance recipient to divide the amount of an advance, or to become obligated, directly, contingently, or both, for more than one advance at the same time, if the purpose or result is to obtain additional origination fees under AS 06.50.460(a)(1).
Sec. 06.50.430. Prohibition on collateral and services.
The licensee may not accept collateral or services as security for or payment of an advance.
Sec. 06.50.440. Duration of advances.
The minimum duration of an advance is 14 days.
Sec. 06.50.450. Prohibition on advances on behalf of another.
A licensee may not make an advance to a person who purports to be acting on behalf of another person.
Sec. 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 […]
Sec. 06.50.470. Renewal of advance.
(a) The minimum term of a renewal of an advance is 14 days. (b) A licensee may not renew an advance more than two consecutive times, after which the licensee shall require the advance recipient to repay the advance in full. (c) A licensee may not renew an advance for fees greater than the fees […]
Sec. 06.50.480. Rescission.
A person who receives an advance may rescind an advance without cause and without cost, except for the nonrefundable origination fee, at any time before the close of business on the business day following the day on which the advance was made by paying the principal amount of the advance to the licensee in cash […]