Alaska Statutes: AS 06.50.530. Payment By Advance Recipient.

Alaska Statutes. Title 6. Banks and Financial Institutions Chapter 50. Deferred Deposit Advances Section 530. Payment By Advance Recipient.

previous: Section 520. Payment By Licensee.
next: Section 540. Default Fees.

AS 06.50.530. Payment By Advance Recipient.

(a) An advance recipient may repay an advance

(1) in cash;

(2) by negotiation of the recipient's check that secures the advance; or

(3) with the agreement of the licensee, a debit card, a cashier's check, an electronic funds transfer from the recipient's bank account, or a reasonable electronic payment mechanism to which the parties agree.
(b) An advance is paid in full when the advance recipient repays the advance under (a) of this section, or when the advance recipient rescinds the advance under AS 06.50.480 .
(c) A licensee may not accept payment of an advance from the proceeds of another advance provided by the same licensee.

This version of the Alaska Statutes is current through December, 2022. 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.