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 […]
Sec. 06.50.210. Change in control.
The prior written approval of the department is required for the continued operation of a licensee’s deferred deposit advance business when a change in control of the licensee is proposed. The department may require the information it considers necessary to determine whether a new application is required. The licensee requesting approval of the change in […]
Sec. 06.50.220. Change in location or name.
A licensee shall notify the department in writing at least 15 days before any proposed change in the licensee’s business location or name, and shall provide the department with the information described in AS 06.50.030(a).
Sec. 06.50.230. Conduct of other business.
A licensee may conduct other business at a location where it engages in making advances unless it conducts the other business for the purpose of evading or violating the provisions of this chapter.
Sec. 06.50.300. Suspension or revocation of license.
(a) The department may suspend or revoke a license under AS 44.62 (Administrative Procedure Act) if the department finds that (1) the licensee has failed to pay the license fee, failed to maintain the required bond in effect, or failed to comply with a demand, ruling, or requirement of the department made under this chapter; […]
Sec. 06.50.310. Reports to department.
(a) On or before March 15 of each year, a licensee shall file with the department a composite annual report for the preceding calendar year in the form prescribed by the department relating to all advances made by the licensee. The department may require that the report be submitted under oath or affirmation, or with […]
Sec. 06.50.320. Records.
(a) A licensee shall maintain all records relating to this chapter at the location for which the licensee has a license. The records must conform to generally accepted accounting principles and practices in a manner that will enable the department to determine whether the licensee is complying with the provisions of this chapter. The department […]
Sec. 06.50.330. Examinations and investigations.
(a) The department shall examine the business records of a licensee at intervals the department considers appropriate. In addition, for the purpose of discovering violations of this chapter or securing information lawfully required, the department may, at any time, investigate the advances, business transactions, and records of a licensee. For these purposes, the licensee shall […]
Sec. 06.50.400. Advance agreement.
(a) An advance shall be documented in a written agreement that is signed by the advance recipient and on a form approved by the department. (b) The agreement must clearly and conspicuously disclose (1) the name of the licensee; (2) the date of the advance; (3) the principal amount of the advance; (4) a statement […]
Sec. 06.50.410. Maximum amount of advances.
A licensee, including a licensee with more than one location, may not make advances to an advance recipient that exceed $500 outstanding in advances to the recipient at one time.