Section 06.20.280. Maximum charge by licensee.

Latest version.

A licensee may not directly or indirectly charge, contract for, or receive any interest, discount, or consideration greater than that which the licensee would be permitted by law to charge if the person were not a licensee under this chapter, upon the loan, use or forbearance of money, goods, or things in action, or upon the loan, use, or sale of credit, of the amount or value of more than $25,000. This section applies to any licensee who permits any person, as borrower or endorser, guarantor, or surety for any borrower, or otherwise, to owe directly or contingently or both to the licensee at any time a sum of more than $25,000 on principal.

Notes

Implemented As

3 AAC 12.080
3 AAC 12.360
3 AAC 12.390

History

(Sec. 18 ch 73 SLA 1955; am Sec. 10 ch 71 SLA 1978; am Sec. 5 ch 63 SLA 1980)

                    
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