Section 04.11.670. Foreclosure.

Latest version.

A license issued under this title is not subject to foreclosure, and may not be used as collateral to secure a debt.  However, if a license is transferred to another person, the transferor may secure payment for real and personal property conveyed to the transferee upon the promise of the transferee to transfer the license back to the transferor upon default in payment.

Notes

Implemented As

3 AAC 304.105
3 AAC 304.107

References

3 AAC 304.107

History

(Sec. 2 ch 131 SLA 1980)

                    
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