Section 45.45.060. Contract not usurious because of agreement to pay taxes.

Latest version.

A contract made in the state between borrower and lender, debtor and creditor, or mortgagor and mortgagee, on which the rate of interest is the legal rate of interest specified in AS 45.45.010 or less, by which one party agrees to pay the taxes on the debt, credit, or mortgage existing or entered into between the parties, is legal and valid and is not usurious.

Authorities

45.45.070;45.45.060

Notes

References

AS 45.45.070
AS 45.45.070 Enforcement of contracts entered into under AS 45.45.060.

History

(Sec. 25-1-6 ACLA 1949; am Sec. 3 ch 94 SLA 1969)

                    
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