Section 43.50.550. Deferred-payment basis for stamps.

   (a) A licensee may apply to the department to purchase stamps on a deferred-payment basis. Upon receipt of the application and the bond required under (b) of this section, the department may set the maximum dollar amount of stamps that the licensee is authorized to purchase on a deferred-payment basis in a calendar month.
   (b) A licensee who submits an application for the purchase of stamps on a deferred-payment basis shall, as a condition of approval of the application, post a bond acceptable to the department in an amount equal to
        (1) 200 percent of the maximum dollar amount of allowed monthly purchases under this section; or
        (2) 100 percent of the maximum dollar amount of allowed monthly purchases under this section if the licensee
             (A) holds a license issued under AS 43.50.010 for a physical location in this state; and
             (B) has been in full compliance with the provisions of this title and regulations adopted under this title during the preceding 60 months.
   (c) Amounts owing for stamps purchased on a deferred-payment basis in a calendar month are due on or before the last day of the next calendar month. Payment shall be made by a remittance acceptable to the department that is made payable to the department.
   (d) The department may designate the sales locations where the licensee may make purchases of stamps on a deferred-payment basis and fix the dollar amount of purchases that the licensee may make under this section at each designated sales location each month.

Authorities

43.50.540;43.50.560

Notes

References

AS 43.50.540 Purchase of and payment for stamps.
AS 43.50.560 Suspension of deferred-payment basis privilege.

History

(Sec. 19 ch 109 SLA 2003; am Sec. 25 ch 1 FSSLA 2004)