Alaska Statutes (Last Updated: January 11, 2017) |
Title 06. BANKS AND FINANCIAL INSTITUTIONS. |
Chapter 06.50. DEFERRED DEPOSIT ADVANCES. |
Article 06.50.04. LICENSEE PRACTICES AND RECIPIENT RESCISSION AND PAYMENT. |
Section 06.50.520. Payment by licensee.
Latest version.
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(a) A licensee may give an advance recipient the amount of the advance in cash, by the licensee's business check, by a money order, or by a reasonable electronic payment mechanism, including an electronic funds transfer to the advance recipient's account.
(b) A licensee may not use another form of payment than the form of payment authorized in (a) of this section to make an advance to an advance recipient. In this subsection, "another form of payment" includes coupons, merchandise, services, or chattel of any kind.
Notes
History
(Sec. 3 ch 116 SLA 2004)