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Alaska Statutes.
Title 45. Trade and Commerce
Chapter 45. Trade Practices
Section 60. Contract Not Usurious Because of Agreement to Pay Taxes.
previous: Section 50. Recovery By Assignee of Usurious Contract of Amount Paid.
next: Section 70. Enforcement of Contracts Entered Into Under AS 45.45.060

AS 45.45.060. Contract Not Usurious Because of Agreement to Pay Taxes.

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.

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005