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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 45. TRADE AND COMMERCE. |
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Chapter 45.66. SALE OF BUSINESS OPPORTUNITIES. |
Section 45.66.120. Actions for claims against escrow account.
Latest version.
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(a) A buyer who has a claim against an escrow account required by AS 45.66.100 may bring a civil action against the seller or escrow account holder to recover money from the escrow account.
(b) Upon the filing of an action brought under this section, the clerk of the court shall mail a copy of the complaint to the attorney general and, upon entry of an order or judgment in the action, shall mail a copy of the order or judgment to the attorney general.
(c) A person may not begin an action under this section more than two years after the person discovers or reasonably should have discovered the basis for the claim.
(d) The escrow account holder is not liable for the amount by which claims or damages caused by the seller exceed the amount of the escrow account.
Authorities
45.66.110